Business
Result of AGM and Update
Result of AGM and Update.
About this update from Shearwater Group Plc
[{"type":"text","content":"\n RNS Number : 2994H Aurum Mining PLC 03 November 2008 \n \n\n\n\n\n\n\nFor immediate release\n\n\n3 November 2008\n\n\n\n\n\n\n\n\n\n\nAURUM MINING PLC\n('Aurum' or 'the Company')\n\nResult of AGM and update on the settlement with Marsa AG\n\n\nAurum Mining plc (AIM: AUR), the gold-mining company focussed on the Former Soviet Union (FSU) and whose principal asset is the Andash Project in the Kyrgyz Republic, held its Annual General Meeting on 31 October 2008 at which all resolutions were duly passed, save for resolution 5 which was withdrawn and therefore not put to the meeting.\n\nIn the Company's announcement on 19 August 2008 it was disclosed that the Company anticipated that it would acquire Marsa AG by 31 October 2008 as part of its settlement agreement with Marsa AG in respect of the Bishkek litigation.\n\nThe Company maintains that it met all of its obligations under the settlement agreement by 31 October 2008, the closing date, and that Marsa AG failed to do so. As a result the Company is now seeking to have returned the consideration that was in an escrow account pending the closing of the settlement agreement. \n\nThe Board does not believe that the material breaches of the settlement agreement by Marsa AG and the subsequent frustration of the agreement will have any bearing on the Bishkek court proceedings and the case remains suspended.\n\nThe Company will provide a further update in due course.\n\n\nFor further information: \n\n\n\n\n\nAurum Mining plc\n\n\nTel: 020 7478 9050\n\n\n\n\nMark Jones, Chief Executive Officer\nChris Eadie, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nArbuthnot Securities\n\n\nTel: 020 7012 2000\n\n\n\n\nJohn Prior\nJames Steel\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBuchanan Communications\n\n\nTel: 020 7466 5000\n\n\n\n\nMark Court / Rebecca Skye Dietrich\n\n\n\n\n\n\n\n\n\nNotes to editors \n\nAurum Mining, which joined the AIM market of the London Stock Exchange in May 2004, is a mining company focussed on gold opportunities in the Former Soviet Union. Its principal asset is an exploration licence over the Andash gold and copper project in the Kyrgyz Republic. A mining licence for Andash Zone 1 was awarded by the Kyrgyz authoriti...