26 Feb 2009 10:39
26 February 2009
El Oro & Exploration Company p.l.c.
Results of General Meeting and Scheme Meeting
El Oro and Exploration Company p.l.c is pleased to announce that at today's meeting of Scheme Stockholders convened by the Court, the required majority of Scheme Stockholders approved the Scheme without modification. At the subsequent General Meeting, also held today, Stockholders passed the resolution which was proposed, as set out in the notice dated 2 February 2009.
The Scheme is subject to final sanction by the Court and is expected to become effective on 18 March 2009.
An indicative timetable for the remaining steps to implement the Scheme is set out below.
Timetable
Scheme Record Time | 6.00 p.m. on 16 March 2009 |
Last day of dealings in, and for registration of transfers of, Stock Units, and disablement in CREST of Stock Units | 16 March 2009 |
Suspension from trading of Stock Units on AIM | 7.00 a.m. on 17 March 2009 |
Court Hearing (to sanction the Scheme and confirm the Reduction of Capital) | 17 March 2009 |
Effective Date of the Scheme | 18 March 2009 |
Cancellation of admission to trading of Stock Units on AIM | 7.00 a.m. on 19 March 2009 |
Admission and first dealing date of New El Oro Shares | 19 March 2009 |
CREST accounts credited | 19 March 2009 |
Latest date for despatch of share certificates in respect of New El Oro Shares | 1 April 2009 |
Any term used but not defined in this announcement is as defined in the scheme document sent to the Company's stockholders on 2 February 2009. All dates and times are London times. Any changes to the above timetable will be announced and made available on the Company's website (www.eloro.co.uk).
For enquiries please contact:
C. Robin Woodbine Parish: Chairman
Steven McKeane: Company Secretary
El Oro and Exploration Company p.l.c.
Tel: 020 7581 2782
Mark Katzenellenbogen
Auden Capital LLP (financial adviser to the Company) Tel: 020 3008 8832
Philip Secrett
Grant Thornton UK LLP (Nominated Adviser)
Tel: 020 7383 5100