2 Jul 2013 07:00
02 July 2013
Polo Resources Limited("Polo" or "the Company")
Changes to the Board
Polo Resources Limited (AIM: POL and BSX: POL), the natural resources investment company with interests in gold, oil and gas, coal and iron ore, today announces that Stephen Dattels, formerly Executive Co-Chairman, has become Non-Executive Co-Chairman with immediate effect.
Michael Tang, Executive Co-Chairman and Managing Director of Polo, said:
"New and existing management have worked closely together in the seven weeks since I joined the Board. Signet Petroleum Limited has made significant progress with its strategic alternatives process, Nimini Holdings Limited has announced an updated Mineral Resource Estimate and we have taken steps to move forward with GCM Resources Plc. Polo has a healthy cash balance and I look forward to continuing to advance existing projects as well as evaluating new opportunities. I thank Stephen Dattels and the team at Polo for their continued support."
Stephen Dattels, Non-Executive Co-Chairman of Polo said,
"Michael's wealth of knowledge and experience of Asian capital markets is opening up new opportunities for the Company, both for its existing assets and for new business opportunities. I look forward to continuing to work with him and an exciting year ahead."
For further information, please contact:
Polo Resources Limited Ian Burns, Finance Director | +27 787 312 919 |
ZAI Corporate Finance Ltd (nominated adviser) Ray Zimmerman, Peter Trevelyan-Clark, Steve Feng | +44 (0) 20 7060 2220 |
Liberum Capital Tim Graham, Thomas Bective | +44 (0) 20 3100 2000 |
Blythe Weigh Communications Tim Blythe, Robert Kellner | +44 (0) 207 138 3204 |
About the Company
Polo Resources is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For further details on Polo Resources please see our website: 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.