POL.L Regulatory News (POL)

29 Feb 2008 15:30

Polo Resources Limited29 February 2008 29 February 2008 Polo Resources Limited ('Polo', 'Polo Resources' or 'the Company') Result of EGM Polo Resources Limited (AIM: PRL), the natural resources investment and miningcompany, is pleased to announce that shareholder approval was granted at aGeneral Meeting of the Company held today for the: • Acquisition, of MUC Resources LLC, World Coal Works Corporation and Polo Resources LLC ("the Mongolian Target Companies") which hold Coal, Uranium and Tungsten mineral licences and agreement in Mongolia (the "Mongolian Acquisition"); • Acquisition, of a 20.5% interest in GCM Resources plc (the "GCM Acquisition"); and • Adoption by the Company of updated articles of association as set out in the admission document sent to shareholders dated 20 February 2008. Shareholder approval has been given for the ordinary shares currently in issueto be re-admitted and the 25,000,000 new ordinary shares to be issued pursuantto the Mongolian Acquisition and the 72,340,425 new ordinary shares to be issuedin respect of the GCM Acquisition to be issued and to be admitted to trading onAIM. Admission will become effective and dealings in the enlarged share capitalof the Company will commence on 4 March 2008. Polo Resources Limited is required to notify the market of the following thatfollowing admission the total fully diluted issued share capital of the Companywill comprise 808,622,425 ordinary shares each of no par value, each ordinaryshare conveying the right to one vote. Polo Resources does not hold any Ordinaryshares in Treasury. Therefore, after Admission the total number of voting rightsin Polo Resources will be 808,622,425. The above figure of 808,622,425 shares may be used by shareholders as thedenominator for the calculations by which they will determine if they arerequired to notify their interest in, or a change to their interest in, Polounder the Financial Service Authority's Disclosure and Transparency Rules. Contacts: Polo Resources Limited Tel: +61 418 77 3510Paul Ingram, CEOCanaccord Adams (Nomad) Tel: +44 (0) 207 050 6500Robin BirchallFinancial Dynamics Tel: +44 (0) 20 7831 3113Ben Brewerton / Edward Westropp Notes to editors The Company was incorporated and registered in the BVI on 23 May 2007 and wasadmitted to AIM on 4 September 2007 as an investing company. The statedinvestment strategy of the Company on the IPO Admission was to make investmentsand/or acquisitions in the natural resources sector, which might includeexploration, development or production projects in minerals, base metals,precious metals or hydrocarbons, with the main areas of focus being Australia,Africa, North America, South America, Asia (including the Indian sub continent),Eastern and Western Europe. Polo currently holds 6 coal and 16 uranium licences in Mongolia and asignificant strategic stake in GCM (approx. 25%). GCM is engaged in developing acoal mine and power plant project in Bangladesh and South Africa. In Bangladesh,the Phulbari Project mine life is expected to be more than 30 years, withtargeted production of 15 Mt at full capacity of mostly export qualitymetallurgical and thermal coal. This information is provided by RNS The company news service from the London Stock Exchange