TORONTO, July 12, 2012 /CNW/ - Polo Resources Limited (AIM andTSX: POL) was notified on 11 July 2012 that Regent Mercantile Holdings Limited, a company which is wholly owned by the trustee of a trust under which Stephen R. Dattels, Executive Co-Chairman of the Company is a beneficiary, purchased on the same day 4,000,000 ordinary shares of no par value of the Company ("Ordinary Shares") at a price of 2.6 pence per share.
Following the purchase, Mr. Dattels is interested in a total of 228,040,835 Ordinary Shares, representing approximately 9.94 per cent. of the issued share capital of the Company.
Subsequent to the above share purchase, the directors of Polo will have the following interests in the Company:
|Director's interest||Ordinary Shares held||% of Issued share capital|
|Stephen R. Dattels||228,040,835||9.94|
|Neil L. Herbert||85,385,625||3.72|
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. 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.
The Company's exploration and investment activities may also be affected by a number of risks, including legal, political, environmental, economic, financing, permitting, commodity, exploration and development and other market risks which are normal to the industry and referenced in greater detail in the Company's 2011 Annual Report for the period ending June 30, 2011, filed on the Company's profile on www.sedar.com.
For further information:
Polo Resources Limited
Ian Burns, Finance Director
+27 82 404 36 37
Chris Sim, Neil Elliot, George Price
+44 (0) 20 7597 5970
Chris Bowman, Tim Graham
+44 (0) 20 3100 2228
Blythe Weigh Communications
Tim Blythe, Susan McKenzie, Robert Kellner
+44 (0) 207 138 3204
Borden Ladner Gervais LLP
Jeffery Barnes, Habeeb Syed
+1 416 367 6229