Business
Result of General Meeting & Board Changes
Result of General Meeting & Board Changes.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 3141S Beowulf Mining PLC 23 September 2014 \n \n\n23 September 2014\n \n \nBeowulf Mining Plc\n(\"Beowulf\" or the \"Company\")\nResult of General Meeting & Board Changes \n \nBeowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company principally focused on the Kallak North and Kallak South iron ore projects in northern Sweden, announced on 21 August 2014 details of a capital raise of up to £2 million, comprising a Placing, Subscription and Open Offer (together the \"Capital Raising\"). \n \nResult of General Meeting \n \nBeowulf is pleased to announce that at its General Meeting held yesterday, all of the resolutions as set out in the Circular dated 01 September 2014 were duly passed. \n \nThe Company has therefore raised aggregate gross proceeds of approximately £1.74 million through the Placing, Subscription (at face value) and the Open Offer.\n \nApplication has been made to AIM, a market operated by the London Stock Exchange plc, for admission of 20,008,484 New Ordinary Shares (comprising the 15,409,333 Second Subscription Shares and 4,599,151 Open Offer Shares) issued pursuant to the Second Subscription and Open Offer. It is expected that admission of the New Ordinary Shares to trading on AIM will become effective as soon as possible after 8.00 a.m. on 26 September 2014 or such later time or date as may be agreed.\n \nBoard Changes\n \nFurther to the announcement of 21 August 2014, the Company announces changes to the composition of the Board of Directors. \nMr Anthony Scutt and Mr Edward Taylor retired as Non-Executive Directors of the Company at the General Meeting held earlier today. Mr Taylor remains with the Company in his capacity as Company Secretary. \nMr Kurt Budge and Mr Bevan Metcalf have joined the Board as Non-Executive Directors immediately following the General Meeting held earlier today. \n \nMr Kurt Budge\n \nMr Budge's career in the mining sector spans over 20 years. \nMost recently Mr Budge has been an independent advisor to junior mining companies on acquisitions and project development. Prior to this Mr Budge was General Manager Business Development for African Minerals Limited, where he developed strategic growth options for the company, around the expansion of its Tonkolili iron o...