Business
Result of General Meeting - Completion of Escro...
Result of General Meeting - Completion of Escro....
About this update from Serabi Gold Plc
[{"type":"text","content":"\n \n\n\n\n\n SERABI MINING plc\n (\"Serabi\" or \"the Company\")\n\n Result of General Meeting\n Completion of Escrow Release Conditions\n\n\nSerabi Mining plc announces that at the General Meeting of the Company held on\n21 December 2010,shareholders approved the ordinary resolution proposed in the\nnotice of meeting dated 3 December 2010 (the \"Resolution\") for the consolidation\nof the all of the issued and unissued ordinary shares of Company on the basis of\none new ordinary share of 5 pence each (\"New Ordinary Shares\") for every ten\nexisting ordinary shares of 0.5 pence each (\"Existing Ordinary Shares\").\n\nThe Company's registrar will as of close of business today make the necessary\nadjustment to the register of shareholders and the Existing Ordinary Shares will\ncease to be traded on AIM as of close of business today. Dealings in the New\nOrdinary Shares of the Company will commence at 8.00 am on 22 December 2010.\nWith effect from 22 December 2010 the number of New Ordinary Shares in issue\nwill be 44,774,059 and the total number of New Ordinary Shares in the Company\nwith voting rights is 44,774,059.\n\nThe above figure of 44,774,059 New Ordinary Shares may be used by shareholders\nin the Company as the denominator for the calculations by which they will\ndetermine if they are required to notify their interest in, or a change to their\ninterest in, the share capital of the Company under the Financial Service\nAuthority's Disclosure and Transparency Rules.\n\nThe passing of the Resolution also satisfies the escrow release conditions\nrelating the issue of Special Warrants announced on 3 December 2010. In\naccordance with the terms on which the Special Warrants were issued the proceeds\nnet of certain expenses (which amounted to approximately $396,000) had been\nplaced in escrow pending the approval of the shareholders of the Company of the\nResolution. Subject to the notification by the Directors of Serabi to\nComputershare Trust Company of Canada (who is acting as trustee for these funds)\nthat the escrow release condition has been satisfied, the proceeds will be\nreleased to the Company.\n\n\nEnquiries\n\n Serabi Mining plc\n\n Michael Hodgson Tel: 020 7246 6830\n\n Chief Executive Mobile: 07799 473621\n\n\n\n Clive Line Tel: 020 7246 6830\n\n Finance Director Mobile: 07710 151692\n\n\n\n E...