Vane Minerals PLC
30 November 2007
30th November 2007
AIM: VML
VANE Minerals Plc
('VANE' or 'the Company')
Result of EGM
VANE announces that following its Extraordinary General Meeting ('EGM'), held at
11am today, all proposed resolutions were duly passed by shareholders.
The EGM was convened primarily to seek the necessary authorities to approve a
placing of Ordinary shares of 10p each ('Shares') to raise approximately £6.25
million at a placing price of 17.5p per Share.
Application has been made for the 35,714,285 new Shares issued today to be
admitted to trading on AIM. It is expected that trading in the Shares will
commence on Monday 3rd December.
The net proceeds of the Placing will be primarily used to accelerate VANE's
breccia pipe drilling campaign in Northern Arizona, where the Company has 39
drill targets, and to proceed with further rounds of drilling on the Company's
six properties in Utah. It is envisaged that further drilling at the North Alice
Extension and North Wash in Utah should enable the Company to produce a National
Instrument 43-101 complaint resource statement in the early part of 2008.
Enquiries:
VANE Minerals Plc Westwind Partners Ambrian Partners Limited Parkgreen Communications
Matthew Idiens Paul Newman Richard Brown Beth Harris/Laura Llewelyn
+44 (0) 20 7667 6322 +44 (0) 20 7290 9713 +44 (0) 20 7776 6417 +44 (0) 20 7851 7480
For further information, please review: www.vaneminerals.com.
This information is provided by RNS
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