TORONTO, July 27 /CNW/ - Polo Resources Limited (AIM and TSX: POL) announces that following a purchase today of 4,000,000 Ordinary Shares of the Company at a price of 5.95 pence per share, Neil Herbert, Co-Chairman and Managing Director of the Company, is interested in a total of 69,132,954 Ordinary Shares, representing approximately 2.91% per cent of the issued share capital of the Company.
In addition, the Company was notified today that Galloway Limited, a company which is indirectly wholly owned by the trustee of a settlement under which James Mellon, a Non-Executive Director of the Company, has a life interest, yesterday purchased 1,000,000 Ordinary Shares at a price of 5.90 pence per share and 2,000,000 Ordinary Shares at a price of 5.88 pence per share.
Following the purchase, Mr. Mellon is interested in a total of 19,500,000 Ordinary Shares, representing approximately 0.82% per cent of the issued share capital of the Company.
About the Company
Polo Resources is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. The Company will primarily invest in companies with producing assets and/or resources and reserves that have been verified under internationally recognised reporting standards. For complete details on Polo Resources: www.poloresources.com.
The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
SOURCE Polo Resources Limited
For further information: For further information: Polo Resources Limited, Catherine Sugarman, Company Secretary, + 27 82 404 36 37; Canaccord Genuity Limited, Ryan Gaffney/Bhavesh Patel, + 44 (0) 20 7050 6500; Toronto, James McVicar, Heenan Blaikie LLP, +1 416 643 6903; Financial Dynamics, Ben Brewerton/Ed Westropp, + 44 (0) 20 7831 3113