Last checked at 3 Jun 2016 07:00
3 June 2016
THOR MINING PLC
NOTICE OF GENERAL MEETING
Thor Mining PLC ("Thor" or "the Company") (AIM, ASX: THR), the Australian tungsten explorer and developer, has today posted a notice of a general meeting to be held at 9am on 23 June 2016 at the offices of Grant Thornton UK LLP, 30 Finsbury Square, London EC2P 2YU (the "General Meeting").
At the General Meeting, shareholders will be asked to give the directors authorities to issue shares pursuant to the matters described below:
· On 17 May 2016 the Company announced the placement of a total of 1,200,000,000 ordinary shares of 0.01 pence each ("Ordinary Shares") with warrants attached over 1,200,000,000 Ordinary Shares, at an exercise price of 0.05 pence per share ("Warrants"), to raise a total of £300,000 before expenses.
· On 1 June 2016 the Company issued and allotted the first tranche of those securities, comprising 336,000,000 Ordinary Shares with 336,000,000 Warrants attached.
· The issue and allotment of the remaining 864,000,000 Ordinary Shares and 864,000,000 Warrants is subject to obtaining approval from shareholders for the purposes, inter alia, of ASX Listing Rule 7.1.
Resolutions 1 and 2 provide the directors with the necessary authorities to issue equity securities and dis-apply pre-emption rights up to an aggregate nominal amount of £400,000. Resolutions 3 and 4 are sought for the purposes of the ASX listing rules for the issue of Warrants and/or Ordinary Shares. Further information is provided in the Notice of General Meeting mailed to shareholders today.
The directors of Thor believe that these proposals are in the best interests of the Company and recommend that shareholders vote in favour of the resolutions at the General Meeting, as they intend to do in respect of their own holdings of 553,118,118 Ordinary Shares, representing 11.4 per cent of the Company's issued share capital.
A copy of the Notice of General Meeting is also available on the Company's website, http://www.thormining.com/.
Enquiries:
Mick Billing | +61 (8) 7324 1935 | Thor Mining PLC | Executive Chairman |
Ray Ridge | +61 (8) 7324 1935
| Thor Mining PLC | CFO/Company Secretary |
Colin Aaronson/ Daniel Bush/ Richard Tonthat | +44 (0) 207 383 5100
| Grant Thornton UK LLP
| Nominated Adviser |
Gerry Beaney/ David Hignell John Howes | +44 (0) 207 382 1100
| Northland Capital Partners Limited | Broker |
Tim Blythe/ Camilla Horsfall | +44 (0) 207 138 3222 | Blytheweigh | Financial PR |
Updates on the Company's activities are regularly posted on Thor's website, www.thormining.com,
which includes a facility to register to receive these updates by email.