POL.L Regulatory News (POL)

5 Jun 2009 07:00



5 June 2009

Polo Resources Limited ("Polo" or the "Company")

Board Appointment

Polo Resources (PRL), the AIM listed mining company with interests in coal and uranium in Africa, Australia, Mongolia and Bangladesh, announced today the appointment of James Mellon to the Board, as a Non-Executive Director.

James Mellon has also been appointed as a member of the Remuneration Committee.

Mr Mellon has been a fund and asset manager for nearly thirty years. He is an avid participant in a number of markets, in particular the stock markets of emerging nations. 

Mr. Mellon started his career with GT Management Plc in 1978. In July 1984, he moved to the Thornton Group where he was Managing Director of the Asian operation. From 1988 to 1990, he was an Executive Director of Tyndall Holdings Plc, responsible for business expansion and corporate development.

Mr. Mellon is the founder, principal shareholder and co-Chairman of the Regent Pacific Group, quoted on the Hong Kong Stock Exchange. He is also founder, principal shareholder and a Non-Executive Director of Charlemagne Capital and Non-Executive co-Chairman of Emerging Metals Limited, both listed on the AIM market.

Mr. Mellon holds a masters degree in Politics, Philosophy and Economics from Oxford University.

Mr. Mellon has an interest in 16.5 million ordinary shares of the Company.

Neil Herbert, Managing Director of Polo, said:  'We are pleased to be strengthening our Board with the appointment of James Mellon. Mr Mellon brings a lifetime of experience in the finance sector and previously served along with Stephen Dattels and myself on the Board of Directors of UraMin Inc.'

Additional information

Save as set out below, there are no further details in relation to the above appointment which require disclosure under paragraph (g) of Schedule 2 to the AIM Rules.

The Directorships and past Directorships of Mr James Mellon, aged 52 are listed below:

Directorships in the past five years:

ARC Rainbow Fund

Asian Opportunity Fund 1998 - Series II

Bigsave Holdings plc

Mago Resources (PTY) Limited

Regent Markets Group Limited

Regent Market Holdings Limited

The New Korea Growth Fund

Titec BVI Limited

Undervalued Assets Fund - Series One

UraMin Inc.

Current Directorships:

Asian Opportunity Fund 1998 - Series I

AstroEast.com (Hong Kong) Limited

AstroEast.com Limited 

Betinternet.com Ltd

BFS Absolute Trust Limited

Burnbrae Charlottenburg GmbH

Burnbrae Commercial GmbH

Burnbrae Development GmbH

Burnbrae Friedrichstein GmbH

Burnbrae Germany East GmbH

Burnbrae Germany GmbH

Burnbrae Germany North GmbH

Burnbrae Germany South GmbH

Burnbrae Germany West GmbH

Burnbrae Group Limited

Burnbrae Kreutzberg GmbH

Burnbrae Limited

Burnbrae Lutzowstrasse GmbH

Burnbrae Mitte GmbH

Burnbrae Prenlauer Berg GmbH

Burnbrae Residential GmbH

Burnbrae Sachsen GmbH

Burnbrae Schonefeld GmbH

Burnbrae Spandau GmbH

Burnbrae Tempelhof GmbH

Burnbrae Tiergarten GmbH

Burnbrae Wedding GmbH

Burnbrae Wilmersdorf GmbH

CCEC Limited

Charlemagne Capital (IOM) Limited

Charlemagne Capital Limited

Charlemagne Capital Russia Fund

Charlemagne Capital Russia Value Fund

Clean Air Capital Limited

Discover Investment Company

Emerging Metals Limited

Fixed-Odds Capital (Cook Islands) Ltd

Genseq Limited

Global Glory Investment Limited

IC Technology (UK) Limited

Microcap Partners Limited

Niger Uranium Limited

Paymonthly.com (Hong Kong) Limited

Red Dragon Resources Corporation

Regent Corporate Finance Limited

Regent Fund Management (Asia) Limited

Regent Fund Management Limited

Regent Metals Holdings Ltd

Regent Pacific Group Limited

RL Country Warrant Fund

Shaanxi Red Dragon Resources Ltd

Shellbay Investments Limited

Sleepwell Hotels (UK) Limited

Sleepwell Hotels Limited

Speymill Group Plc

Speymill Property Managers Limited

Undervalued Assets Property Fund - Series Two

Uranco Inc. 

Further disclosure

Bigsave Holdings plc was placed into voluntary liquidation in January 2008.

Regent Pacific Fund was placed into voluntary liquidation in April 2003.

Contacts:

About the Company

Polo is an emerging energy company focused on acquiring and developing advanced stage uranium and coal properties. For complete details on Polo Resources Limited, management encourages investors and interested parties to view its public documents filed on AIM Exchange at www.poloresources.com.

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

ENDS