Polo Resources Limited Update re admission of GCM Consideration Shares (7957D)
21 Febrero 2020 - 10:01AM
UK Regulatory
TIDMPOL
RNS Number : 7957D
Polo Resources Limited
21 February 2020
21 February 2020
POLO RESOURCES LIMITED
("Polo" or the "Company")
Update re admission of the GCM Consideration Shares to trading
on AIM
Polo Resources Limited (AIM: POL), the multi-sector investment
company with interests in oil, gold, coal, copper, phosphate,
lithium, iron and vanadium, announces that further to the Company's
announcements on 6 February 2020 and 12 February 2020, admission to
trading on AIM of the 44,367,795 Consideration Shares, to be issued
pursuant to the transaction between the Company's subsidiary, Polo
Investments Limited ("PIL") and Dyani Corporation Limited ("Dyani")
in relation to GCM Resources plc ("GCM") (the "Transaction") is
still delayed. The Company is seeking to clarify certain regulatory
and legal matters relating to the Transaction and a further
announcement will be released once these matters are clarified.
Whilst the Consideration Shares have been issued, they have not
yet been transferred to Dyani and the Company is in the process of
cancelling the issue of the Consideration Shares. At this time, it
is the Company's intention to proceed with the Transaction and
reissue the Consideration Shares to the vendors, provided the
Company is able to address the regulatory and legal matters
relating to the Transaction.
Total voting rights
The total number of ordinary shares of no par value in the
Company in issue is, as of today, 356,156,946 with each share
carrying the right to one vote. The figure of 356,156,946 may be
used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company under the Disclosure and Transparency
Rules.
As set out above the Company is in the process of cancelling the
issue of the Consideration Shares and following such cancellation
the total number of ordinary shares of no par value in the Company
in issue will be 311,789,151. The Company will notify shareholders,
by way of an announcement, once the cancellation of the issue of
the Consideration Shares has taken effect.
Capitalised terms used but not defined in this announcement
shall have the meanings given to such terms in the announcement
issued by the Company dated 6 February 2020, unless otherwise
defined herein.
For further information, please contact:
Polo Resources Limited
- Kudzayi Denenga, Investor Relations +27 (0) 787 312 919
Allenby Capital Limited (Nominated adviser
& broker)
- John Depasquale +44 (0) 20 3328 5657
About the Company
Polo Resources Limited is a multi-sector investment company
focused on investing in undervalued companies and projects with
strong fundamentals and attractive growth prospects. For complete
details on Polo, please refer to: www.poloresources.com .
This information is provided by RNS, the news service of the
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Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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