Business
Result of AGM and Posting of
Result of AGM and Posting of.
About this update from Shearwater Group Plc
[{"type":"text","content":"\n RNS Number : 3031B Aurum Mining PLC 23 October 2009 \n \n\n\n\n\n\n\n\n23 October 2009\n\n\n\n\n\nAURUM MINING PLC\n(\"Aurum\" or \"the Company\")\n\nResult of AGM and posting of Circular to Shareholders\n\nAurum Mining plc (AIM: AUR) is pleased to announce that at its Annual General Meeting held earlier today, all resolutions were duly passed.\n\nThe Company also announces that, following the exercise by Kentor Gold Limited (Kentor) of its options to acquire the Company's stake in the Andash project in Kyrgyzstan including the ancillary mining fleet as announced on 19 October 2009, it has today entered into a conditional disposal agreement with Kentor relating to the disposal of its subsidiary Kaldora Company Limited (\"Kaldora\") which holds the Company's stake in the Andash project (\"the Disposal\"). \n\nThe Disposal would constitute a fundamental change in business (as defined by Rule 15 of the AIM Rules) and is therefore subject to approval by Aurum's Shareholders. Accordingly, the Company will also be sending a circular to Shareholders later today containing full details of the Disposal together with a notice of General Meeting, to be held at 11.00 a.m. on 12 November 2009, at which a resolution seeking Shareholder approval of the Disposal will be sought (\"Disposal Resolution\"). \n\nAssuming that the Company does not complete a deal prior to completion of the Disposal, the Company's only significant assets would then comprise its cash balances (including the proceeds of the disposal) and the continuing 10 per cent. interest it will have in the Andash project. Accordingly, for the purposes of the AIM Rules, the Company would be deemed to be an investing company (as defined by the AIM Rules) and would therefore upon completion be required to adopt an investing policy. A further resolution will therefore be proposed at the General Meeting seeking Shareholder approval of such policy which is set out in the circular to Shareholders. \n\nA copy of the circular and notice of General Meeting will be available later today on the Company's website, www.aurummining.net\n\nFor further information: \n\n\n\n\n\nAurum Mining plc\n\n\nTel: 020 7499 4000\n\n\n\n\nMark Jones, Chief Executive\nChris Eadie, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n...