TORONTO, Aug. 16 /CNW/ - Polo Resources Limited (AIM and TSX: POL) announces that it has issued 10,000,000 ordinary shares of no par value in the Company ("Ordinary Shares") to a consultant firm following the exercise of options granted to it in connection with its role in the sale of the Group's interest in Extract Resources Limited. The price paid per Ordinary Share was 4 pence.
Application will be made for the new Ordinary Shares, which rank pari passu in all respects with the Company's existing ordinary shares, to be admitted to trading on AIM which is expected to occur on or about 20 August 2010.
On admission the Company's issued share capital will be 2,432,678,956 ordinary shares of no par value. The total number of voting rights in the Company will be 2,432,678,956. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
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, Gary Good, Chief Financial Officer, + 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