AIM: EMED 27 May 2008
EMED Mining Public Limited
("EMED Mining" or "the Company")
Results of Extraordinary General Meeting
Further to the announcement made on 7 May 2008, The Directors of EMED Mining are pleased to announce that all resolutions put to the Shareholders' Meeting of the Company on 26 May 2008 in connection with the placing of 50 million new ordinary shares of 0.25 pence each par value ("Placing Shares") at an issue price of 20 pence each ("Placing Price") with existing and new shareholders (the "Placing") were duly passed.
The Placing has raised lb10 million gross (lb9.6 million net after expenses) and the Placing Shares were admitted to trading on AIM ("Admission") this morning. Fox-Davies Capital Limited ("Fox-Davies") acted as lead broker and GMP Securities Europe LLP and Lewis Charles Securities Limited acted as sub-agents to Fox-Davies in the Placing, which was significantly oversubscribed.
Following the Placing and to the best of the Company's knowledge, details of the significant shareholders and Directors in the Company are set out below:
|
Name of Significant Shareholder |
Shares subscribed for in the Placing |
Interest in EMED Mining ordinary shares following the Placing |
% of issued ordinary shares |
% of ordinary shares fully diluted for options |
|
Oxiana Limited |
5,820,000 |
23,239,000 |
11.64% |
9.91% |
|
Resource Capital Funds |
15,000,000 |
21,482,667 |
10.76% |
9.16% |
|
Fidelity International Limited |
3,625,000 |
10,095,000 |
5.06% |
4.30% |
|
RMB Australia Limited |
2,500,000 |
10,232,902 |
5.13% |
4.36% |
|
Altima Partners |
8,500,000 |
8,500,000 |
4.26% |
3.62% |
|
Directors | ||||
|
Ronnie Beevor |
500,000 |
5,950,000 |
2.98% |
3.54% |
|
Harry Anagnostaras-Adams |
- |
4,900,000 |
2.45% |
6.78% |
|
John Leach |
500,000 |
1,210,000 |
0.61% |
1.39% |
|
Michael Price |
- |
- |
- |
0.30% |
|
Gordon Toll |
- |
4,666,667 |
2.34% |
2.69% |
The above interests include both direct and indirect holdings.
Conversion Notice on Loan Arrangement
Further to the announcement made on 18 December, Yorkville Associates LLC of New Jersey USA ("YA") has issued a Conversion Notice relating to the conversion of shares pursuant to the terms of the Loan Agreement. YA will convert US$50,000 of the loan arrangements with EMED Mining into 103,989 Ordinary Shares in the Company (at an average price of 25.5 pence per share), and these are expected to be admitted to trading on AIM on 30 May 2008.
Mr Harry Anagnostaras-Adams, Managing Director of EMED Mining said:
"The passing of all resolutions reinforces our shareholders commitment to the Company and underscores their belief in its potential. We're at an important stage because the option over the Rio Tinto MIne, upon exercise, will facilitate the restart of production at Spain's largest copper deposit which has fully intact infrastructure sitting idle. EMED Mining would then, within 6 months, establish its European operational headquarters in Andalucia and begin supplying copper to metal-starved customers in Europe and Asia.
"We would like to thank our shareholders for their continued support and confidence."
Enquiries
|
EMED Mining |
Fox-Davies Capital |
RFC Corporate Finance |
Parkgreen Communications |
|
Harry Anagnostaras-Adams |
Richard Hail |
Stuart Laing |
Justine Howarth |
|
+357 9945 7843 |
+44 (0)207 936 5230 |
+618 9480 2500 |
+44 20 7851 7480 |
GMP Securities Europe Lewis Charles Securities
+44 (0) 20 7647 2803 +44 (0) 20 7456 9111
James Hannon Kealan Doyle
Lisa Kavanagh
Parkgreen Communications
Pegasus House
37-43 Sackville Street
London, W1S 3EH
T: 020 7851 7480
F: 020 7494 9085
M: 07903 762 119
This email and any files transmitted within it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please contact the sender on +44 20 7851 7480.
