Last checked at 26 Oct 2009 16:17
Upstream Marketing and Communications Inc
("Upstream" or the "Company")
Result of Extraordinary General Meeting
The Board of Upstream is pleased to announce that, at an extraordinary general meeting of the Company held earlier today, all resolutions contained in the circular posted to shareholders on 2 October 2009 were duly passed.
These resolutions were to approve the disposal of Upstream Asia Limited and Camber Communications Limited (together "UAL"), comprising all the existing public relations businesses of Upstream ("Disposal"), the adoption of the new Investing Policy under the AIM Rules and the change of the Company's name to Hameldon Resources Limited.
Completion of the disposal of UAL is expected to take place on 27 October 2009. On completion of the Disposal Jaime Law will resign from the Board and David and Jane McGuire Ketchum will be re-designated as non-executive directors. Nikul Sarin will be re-designated as an executive director.
An announcement regarding the change of the Company's name will be made as soon as the Cayman registrar has issued a change of name certificate.
In addition, following completion of the Disposal, the Company will adopt the new Investing Policy as set out below:
NEW INVESTING POLICY
The Company's investing policy will be to acquire holdings in natural resources, minerals, metals and/or oil & gas companies which the Directors believe are undervalued and where one or more such transactions have the potential to create value for Shareholders. The Company expects to be an active investor but it will depend on the terms of each transaction.
The Company will seek to acquire interests in natural resources, minerals, metals, and/or oil & gas projects such as (without limit) exploration permits and licences, mining and production licences or processing and development projects, which may be achieved through acquisitions, partnerships or joint venture arrangements. Such investments may result in the Company acquiring the whole or part of a company or project. The Company's investments may take the form of equity, joint venture debt, convertible instruments, licence rights, or other financial instruments as the Directors deem appropriate.
Enquiries:
Upstream Marketing and Communications
David Ketchum
+852 2973 0222
Nikul Sarin
+44 207 399 4381
Strand Hanson Limited
James Harris/Angela Peace
+44 207 409 3494