28 Oct 2014 11:16
28 October2014
Bellzone Mining plc
("Bellzone" or "the Company")
Result of the Extraordinary General Meeting
Further to the announcement of 10 October 2014, Bellzone Mining plc (AIM: BZM) announces that at the Extraordinary General Meeting of shareholders held today, Tuesday 28 October, the resolution, as set out in the circular to shareholders dated 10 October 2014, was duly passed. Further details of the vote are set out below:
For | Against | ||||
No. of shares | % of vote | % of voting rights | No. of shares | % of vote | % of voting rights |
698,631,377 | 99.98 | 68.44 | 158,560 | 0.02 | 0.02 |
The proceeds of £0.49 million from the Conditional Placing are expected to provide Bellzone with sufficient funds to continue operations until the end of November 2014.The Board looks forward to developing the future financing strategy of the Company further with China Sonangol, including the status of the Loan, under which $1.5 million is drawn and repayable with interest on or before 14 December 2014. Until the Company has such clarity regarding its financial position, including China Sonangol's views with respect to financing beyond the end of November, it believes it is appropriate that its ordinary shares remain suspended from trading on AIM.
It is expected that the 98,920,911 ordinary shares to be issued under the Conditional Placing, via a cash box placing, will be admitted to AIM on 29 October 2014. Following the completion of the Conditional Placing the Company will have in issue 1,130,660,383 ordinary shares of no par value ("Ordinary Shares"), of which 11,080,130 Ordinary Shares are held by the Company in treasury. Therefore, the total number of voting rights in the Company is 1,119,580,253.
Following completion of the Conditional Placing, China Sonangol will hold 571,024,179 Ordinary Shares representing 51 per cent. of the voting rights of the Company.
Capitalised terms used in this announcement have the same meanings given to them in the circular sent to shareholders dated 10 October 2014.
Enquiries:
Bellzone Mining plc
Terry Larkan, CFO +44 (0) 1534 513 500
Investec Securities
Nominated Advisor and Broker
Chris Sim / George Price / Jeremy Ellis +44 (0) 207 597 5970
Bell Pottinger
Financial Public and Investor Relations
Daniel Thole +44 (0) 203 772 2500
For more information, visit http://www.bellzone.com/