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Update re admission of GCM Consideration Shares

21 Feb 2020 16:01

RNS Number : 7957D
Polo Resources Limited
21 February 2020
 

21 February 2020

POLO RESOURCES LIMITED

("Polo" or the "Company") 

Update re admission of the GCM Consideration Shares to trading on AIM

Polo Resources Limited (AIM: POL), the multi-sector investment company with interests in oil, gold, coal, copper, phosphate, lithium, iron and vanadium, announces that further to the Company's announcements on 6 February 2020 and 12 February 2020, admission to trading on AIM of the 44,367,795 Consideration Shares, to be issued pursuant to the transaction between the Company's subsidiary, Polo Investments Limited ("PIL") and Dyani Corporation Limited ("Dyani") in relation to GCM Resources plc ("GCM") (the "Transaction") is still delayed. The Company is seeking to clarify certain regulatory and legal matters relating to the Transaction and a further announcement will be released once these matters are clarified.

Whilst the Consideration Shares have been issued, they have not yet been transferred to Dyani and the Company is in the process of cancelling the issue of the Consideration Shares. At this time, it is the Company's intention to proceed with the Transaction and reissue the Consideration Shares to the vendors, provided the Company is able to address the regulatory and legal matters relating to the Transaction.

Total voting rights

The total number of ordinary shares of no par value in the Company in issue is, as of today, 356,156,946 with each share carrying the right to one vote. The figure of 356,156,946 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

As set out above the Company is in the process of cancelling the issue of the Consideration Shares and following such cancellation the total number of ordinary shares of no par value in the Company in issue will be 311,789,151. The Company will notify shareholders, by way of an announcement, once the cancellation of the issue of the Consideration Shares has taken effect.

Capitalised terms used but not defined in this announcement shall have the meanings given to such terms in the announcement issued by the Company dated 6 February 2020, unless otherwise defined herein.

For further information, please contact: 

Polo Resources Limited

- Kudzayi Denenga, Investor Relations

+27 (0) 787 312 919

Allenby Capital Limited (Nominated adviser & broker)

- John Depasquale

+44 (0) 20 3328 5657

 

 

 

About the Company

Polo Resources Limited is a multi-sector investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo, please refer to: www.poloresources.com.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Date   Source Headline
29th Apr 20101:35 pmBUSForm 8.3 - POLO RESOURCES LTD
29th Apr 201011:18 amRNSForm 8.5 (EPT/RI)
28th Apr 20106:22 pmRNSForm 8.5 (EPT/NON-RI)
28th Apr 20102:42 pmRNSForm 8.3 - Polo Resources Limited
28th Apr 20102:01 pmRNSForm 8.3 - Polo Resources Limited
28th Apr 20101:18 pmBUSForm 8.3 - POLO RESOURCES LTD
28th Apr 201011:55 amRNSForm 8 (OPD) Polo Resources Ltd
28th Apr 201011:47 amRNSForm 8.5 (EPT/RI)
27th Apr 20101:36 pmBUSForm 8.3 - POLO RESOURCES LTD
27th Apr 20107:00 amRNSPossible Merger of Polo and Caledon
8th Apr 20109:16 amRNSResignation of Director from Extract Resources
1st Apr 201010:55 amRNSPolo dual lists on the Toronto Stock Exchange
30th Mar 20107:00 amRNSPolo acquires 150 million warrants in the Company
29th Mar 201011:24 amRNSNeil Herbert appointed Co-Chairman
24th Mar 20107:00 amRNSInterim Results
15th Mar 20104:19 pmRNSHolding(s) in Company
9th Mar 20107:21 amRNSConditional listing on Toronto Stock Exchange
3rd Feb 20103:23 pmRNSStrategic Investment Update
27th Jan 20104:13 pmRNSHoldings in Company - Correction
26th Jan 20101:20 pmRNSHolding(s) in Company
5th Jan 20102:39 pmRNSHolding(s) in Company
5th Jan 201011:31 amRNSHolding(s) in Company
5th Jan 201011:16 amRNSHolding(s) in Company
2nd Dec 20099:07 amRNSHolding(s) in Company
19th Nov 20098:26 amRNSResult of AGM
16th Nov 20098:50 amRNSHolding(s) in Company
16th Nov 20098:43 amRNSHolding(s) in Company
9th Nov 20097:50 amRNSIncreased Strategic Stake in Extract Resources
3rd Nov 200910:27 amRNSHolding(s) in Company
29th Oct 20094:01 pmRNSHolding(s) in Company
28th Oct 20099:35 amRNSNotice of Annual General Meeting
27th Oct 20091:40 pmRNSHolding(s) in Company
27th Oct 20097:00 amRNSNew Exploration Target
26th Oct 200912:27 pmRNSHolding(s) in Company
26th Oct 200912:05 pmRNSHolding(s) in Company
21st Oct 20092:34 pmRNSDirector's Share Dealings
21st Oct 20092:32 pmRNSDirector's Share Dealings
21st Oct 20092:31 pmRNSDirector's Share Dealings
16th Oct 20094:48 pmRNSFinal Results
13th Oct 20094:16 pmRNSAppointment of Independent Investment Committee
12th Oct 20097:00 amRNSExploration Update
7th Oct 200911:09 amRNSJORC Compliant Maiden Resource Statement
2nd Oct 20098:13 amRNSHolding(s) in Company
15th Sep 20098:39 amRNSHolding(s) in Company
1st Sep 200910:05 amRNSRossing South Exploration Update
26th Aug 20091:19 pmRNSA$91 million equity raising by Extract Resources
20th Aug 20099:43 amRNSHolding(s) in Company
20th Aug 20097:00 amRNSDisposal of investment interest
13th Aug 200911:55 amRNSA-Cap Resources Feasibility Study Update
4th Aug 20097:00 amRNSDevelopment Update

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