Wildhorse Energy('WHE' or 'the Company'), the AIM and ASX listed company focussed on developing underground coal gasification ('UCG') and uranium projects in Central Europe,confirms that all resolutions put to shareholders at the Annual General Meeting ('AGM') held today, 24 November 2011, were carried unanimously on a show of hands.
In accordance with Section 251AA(1) of the Corporations Act, the following information is provided in relation to the resolutions considered by shareholders at the AGM.
The Company received 44 valid proxies representing 46,426,361 ordinary shares who had directed their voting preferences.
The WHE business model is focussed upon applying UCG technology to convert coal into syngas and then selling the syngas to power stations as a gas feedstock. The development and expansion of the UCG portfolio is underpinned by a potentially world class uranium project which the Company is advancing with its Hungarian uranium development partners Mecsek-Öko and Mecsekérc, with the support of the Hungarian Government.
The Company's business strategy is to become a major supplier of gas feedstock to power stations in Central Europe. WHE's project development strategy is based primarily upon acquiring strategic UCG sites in key locations in Central Europe where gas markets are dominated by Russian gas imports, energy security is a major factor for governments and large scale industrial consumers of gas and gas prices are correspondingly high. The expansion is underpinned by the development of the Mecsek Hills Uranium Project.
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