POL.L Regulatory News (POL)

3 Jun 2008 15:34



3 June 2008

Polo Resources Limited

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

Result of EGM

Polo Resources Limited (AIM: PRL) is pleased to announce that shareholder approval was granted at a General Meeting of the Company held today to amend the Company's articles of association in order to empower the Directors to allot additional shares either for cash to raise additional funds for the Company or as consideration for the acquisition of non-cash assets by the Company.

Accordingly, following the Company's announcement dated 2 June 2008, it is expected that admission of 620,000,000 ordinary shares (being both the Firm Placing Shares and the Conditional Placing Shares, as defined in that announcement) will take place at 8 am on Wednesday 4 June 2008.

Following admission of the placing shares, the total issued share capital will be 1,794,239,816 shares, all of which are voting shares.

Contacts:

Polo Resources Limited

Paul Ingram, CEO

Tel: +61 418 77 3510

BMO Nesbitt Burns Inc.

Egizio Bianchini

Tel: +1 416 359 4001

Canaccord Adams Limited (Nomad and Broker)

Ryan Gaffney

Tel: +44 (0) 20 7050 6500

Financial Dynamics

Ben Brewerton / Edward Westropp

Tel: +44 (0) 20 7831 3113

Notes to editors

BMO Nesbitt Burns Inc is acting as co-lead manager in relation to the Placing. Canaccord Adams Limited is nomad and broker to the Company and is also acting as a co-lead manager to the Placing. 

Important Notice

This announcement has been issued by, and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by the managers or by any of their respective affiliates or agents as to or in relation to, the accuracy or completeness of this announcement, or any other written or oral information made available to or publicly available to any prospective investor or its advisers, and any liability therefor is hereby expressly disclaimed.

The managers are each acting for the Company and no one else in connection with the Placing and will not be responsible to any other person for providing the protections afforded to their respective clients, or for providing advice in relation to the Placing or in relation to the contents of this announcement or any other transaction, arrangement or matter referred to herein.

The securities referred to in this announcement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the "Securities Act") nor with any securities regulatory authority of any State or other jurisdiction of the United States, and accordingly, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, registration under the Securities Act.  The Placing Shares are being offered and sold outside the United States in accordance with Regulation S under the Securities Act.

Neither this announcement nor any part of it constitutes an offer to sell or issue or the solicitation of an offer to buy, subscribe or acquire any ordinary shares in any jurisdiction in which any such offer or solicitation would be unlawful and the information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, the Republic of South Africa, the Republic of Ireland or Japan or any jurisdiction in which such publication or distribution would be unlawful.  No public offering of securities of the Company is being made in the United Kingdom, the United States or elsewhere.