Last checked at 4 May 2010 07:00
AIM: EMED 4 May 2010
RESULT OF EGM
SHAREHOLDER APPROVAL OF £8.3 MILLION PLACING
EMED Mining Public Limited (the "Company") is pleased to announce that its shareholders approved the resolution proposed at its Extraordinary General Meeting yesterday as set out in the circular to shareholders dated 15 April 2010.
The resolution enabled the Company to effect the placing of 83,571,429 new ordinary shares of 0.25 pence each in the Company ("Placing Shares") at an issue price of 10.5 pence each with existing and new institutional investors principally in the UK and Canada (the "Placing"). Fox-Davies Capital Limited acted as broker to the Placing which raised £8.3 million net. The Placing Shares were admitted to trading on AIM today.
The net proceeds from the Placing will be used by the Company to fund the maintenance, planning and permitting process in relation to the Proyecto de Rio Tinto project in Andalucia, Spain in accordance with the Spanish regulatory authorities. The funds raised will also go towards funding the mine-development feasibility, planning and permitting the Company is carrying out in Slovakia and for general working capital purposes.
Enquiries
| EMED Mining | Fox-Davies Capital | RFC Corporate Finance | Bishopsgate Communications |
| Harry Anagnostaras-Adams | Daniel Fox-Davies | Stuart Laing | Michael Kinirons |
| +357 9945 7843 | +44 (0)207 936 5200 | +618 9480 2500 | +44 (0)207 562 3350 |