Last checked at 1 Sep 2010 10:12
MedaVinci Plc
("MedaVinci" or the "Company")
Result of General Meeting
Investment Agreement becoming unconditional
On the 9 August 2010, the Company announced a Placing of 421,021,000 new Ordinary Shares to raise £842,042.
The Company also announced that it had entered into an Investment Agreement under which MedaVinci will acquire 49 per cent. of the issued share capital of Orogen Gold Limited for a total consideration of £370,000 (to be satisfied by the issue of 62,500,000 new Ordinary Shares and cash of £245,000), with an option to acquire the remaining 51 per cent. over the next 12 months. Both the Placing and the Investment Agreement were conditional upon shareholders approval.
The Company is pleased to announce that, at the General Meeting held earlier today, all Resolutions were duly passed.
The Company has made an application to the London Stock Exchange for the 483,521,000 new Ordinary Shares of 0.1p each to be admitted to trading on AIM and it is expected that Admission will take place on 3 September 2010.
Upon Admission, Michael Nolan will be appointed to the Board of the Company as a non-executive director. Details in accordance with Schedule 2(g) of the AIM Rules were announced to shareholders on 9 August 2010.
Definitions in this announcement are consistent with those set out in the circular issued to shareholders of the Company and dated 9 August 2010, a copy of which is available on the Company's website: www.medavinciplc.com.
Enquiries:
MedaVinci plc
Adam Reynolds Tel: +44 (0) 207 245 1100
Zeus Capital Limited Tel: +44 (0) 161 831 1512
Ross Andrews
Tom Rowley