22nd Jan 2010 17:00
Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining
22 January 2010
Central African Gold Plc ('CAG' )
Update on Disposal of Malian Assets
Central African Gold Plc, the AIM quoted gold mining and exploration company, is pleased to announce that the general meeting of Colonial Resources Limited took place earlier today, at which, resolutions were passed enabling Colonial to proceed with the acquisition of CAG's Malian assets ('the Disposal').
The announcement made by Colonial Resources Limited is included, in full, below:
"ASX RELEASE - 22 January 2010
General Meeting
In accordance with Listing Rule 3.13.2 the directors of Colonial Resources Limited ("the Company") advise that the resolutions put to shareholders were carried at the General Meeting of the Company held earlier today.
The resolutions carried were: -
1. "That for the purposes of Listing Rule 11.1.2 approval be and is hereby given to the Company completing the Mali Transaction on the terms and conditions set out in the Explanatory Memorandum."
2. "That for the purposes of Listing Rule 7.11.3 approval be and is hereby given to the Company conducting an Entitlement Offer of Shares on the basis of 7 Shares for every 1 Share held by an Eligible Shareholder on the Record Date at an issue price of 7 cents per Share together with 1 free attaching Option for every 2 Shares issued and otherwise on the terms and conditions set out in the Explanatory Memorandum."
3. "That subject to and with effect from the time that Completion occurs the name of the Company be changed to "Papillon Resources Limited."
4. "That subject to the due passage of Resolutions 1 and 2 and subject to Completion occurring approval be and is hereby given to the allotment and issue by the Company of 5,000,000 Shares and 5,000,000 Options exercisable at $0.15 each on or before 31 December 2011 to Prairie Downs Metals Ltd on the terms and conditions set out in the Explanatory Memorandum."
A summary of proxy votes in relation to the resolutions passed is attached.
For further information contact:
Alec Pismiris
Director/Company Secretary
Colonial Resources Limited
Tel: (+6 18) 9481 8760
www.colonialresources.com.au
General Meeting - 22 January 2010
Disclosure of Proxy Votes
In accordance with section 251AA of the Corporations Law, the following information is provided to Australian Stock Exchange Limited in relation to resolutions passed by members of Colonial at its General Meeting held on 22 January 2010.
|
Resolution Number |
Resolution Number |
Resolution Number |
Resolution Number |
|
|
1.0 |
2.0 |
3.0 |
4.0 |
|
|
Decided by show of hands (S) or poll (P) |
S |
S |
S |
S |
|
Total number of proxy votes exercisable by proxies validly appointed |
3,274,000 |
3,274,000 |
3,274,000 |
3,274,000 |
|
Total number of proxy votes in respect of which the appointments specified that:- - the proxy is to vote for the resolution |
3,274,000 |
3,274,000 |
3,274,000 |
3,274,000 |
|
- the proxy is to vote against the resolution |
Nil |
Nil |
Nil |
Nil |
|
- the proxy is open on the resolution |
Nil |
Nil |
Nil |
Nil |
|
- the proxy is to abstain on the resolution |
Nil |
Nil |
Nil |
Nil |
|
- the proxy may vote at the proxy's discretion |
Nil |
Nil |
Nil |
Nil |
Note: Resolution numbers in this table refer to the numbering in this announcement to Australian Securities Exchange and necessarily not the numbering in the notice of meeting."
The Disposal will not complete until, inter alia, the approval of the Resolutions at CAG's General Meeting, which has been convened for 4.15 p.m. on 12 February 2010. A further announcement will be made in due course.
Unless otherwise defined, the capitalised terms used in this announcement carry the same meaning as those defined in the circular sent to CAG's shareholders on 20 January 2010.
** ENDS **
For further information please visit www.centralafricangold.com or contact:
|
Roy Pitchford / Craig Campbell |
Central African Gold Plc |
Tel: +44(0)77 9390 9985 |
|
Stuart Faulkner/ James Spinney |
Strand Hanson Limited |
Tel: +44(0)20 7409 3494 |
|
Hugo de Salis / Felicity Edwards |
St Brides Media and Finance Ltd |
Tel: +44(0)20 7236 1177 |
Notes to Editors
Central African Gold Plc is an established gold mining company with a portfolio of production and exploration assets in Africa. The Company has two subsidiaries in Zimbabwe: Falcon Gold Zimbabwe Limited (84.7 per cent. owned) and Olympus Gold Mines Limited (100 per cent. owned); and a subsidiary in southern Botswana with a licence covering 436km² of the extension of the Kraaipan greenstone belt from South Africa.
Related Shares:
Canal+