Last checked at 9 Jul 2010 12:17
Independent Resources plc
(the 'Company')
Result of General Meeting
The Placing
Directors' Dealings & Holdings in Company
Total Voting Rights
Result of General Meeting
The Company is pleased to announce that all of the resolutions proposed at the Company's general meeting held today were duly passed.
The Placing
Pursuant to the announcement made by the Company on 23 June 2010, 4,263,000 ordinary shares of 1p each in the capital of the Company ("Placing Shares") have been placed with institutional and other investors at a price of 60 pence per ordinary share (the "Placing"). The net proceeds of the Placing will be utilised by the Company in the development of its various business interests and for general working capital purposes.
Application has been made for the Placing Shares to be admitted to trading on AIM. It is expected that dealings in the Placing Shares will commence on 12 July 2010 (the 'Admission'). The Placing Shares will, upon issue, rank pari passu in all respects with the existing issued ordinary shares of the Company.
Directors' Dealings and Holdings in Company
Immediately following Admission, the Company's directors will hold the following interests in ordinary shares of the Company:
| Name | Number of Existing Ordinary Shares | Percentage of Existing Ordinary Shares | Ordinary Shares acquired in the Placing | Number of Ordinary Shares in Enlarged Share Capital | Percentage of Ordinary Shares in Enlarged Share capital |
| Grayson Nash(1) | 6,526,538 | 15.7% | 200,000 | 6,726,538 | 14.7% |
| Roberto Bencini(2) | 6,056,188 | 14.6% | 20,000 | 6,076,188 | 13.3% |
| Alan Thomas | 31,667 | 0.1% | 18,000 | 49,667 | 0.1% |
(1)Holding includes ordinary shares held by Grayson Nash LLC, in which Grayson Nash (Executive Chairman of the Company) is the majority shareholder
(2)Holding includes ordinary shares held by GAIA SRL, in which Roberto Bencini (Technical Director of the Company) is the majority shareholder
Janine Diana James, the wife of Timothy James (a Director of Independent Resources), has agreed to subscribe for 20,000 Ordinary Shares. Immediately following Admission, the Directors in aggregate, will be interested in approximately 28 per cent. of the enlarged issued share capital of the Company.
Total Voting Rights
Following Admission, the total number of ordinary shares of 1p each in issue will be 45,836,867. There are no shares held in treasury. Therefore the total number of voting rights in the Company will be 45,836,867.
The above figure of 45,836,867 may be used by shareholders 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 Company, under the Financial Services Authority's Disclosure and Transparency Rules.
--Ends--
For further information contact:
| Grayson Nash |
|
| Executive Chairman |
|
| Independent Resources plc: | +39 02 3655 5960 |
|
|
|
| Stewart Dickson |
|
| Seymour Pierce Ltd: | +44 20 7107 8000 |
|
|
|
| Allan Piper/Simon Hudson |
|
| Tavistock Communications Ltd: | +44 20 7920 3150 |