Placement of Rights Issue Shortfall


 

TIDMPRL TIDMBKY 
 
RNS Number : 2532U 
Polo Resources Limited 
22 June 2009 
 

22 June 2009 
 
 
 
 
Polo Resources Limited 
("Polo" or "the Company") 
 
 
Placement of Rights Issue Shortfall 
& 
Exercise of Rights 
 
 
 
 
Polo Resources (PRL), the AIM listed mining company with coal and uranium 
interests in Africa, Australia, Europe and Asia, announces that Berkeley 
Resources Limited has placed the Shortfall Securities from its recent rights 
issue to Polo. 
 
 
In accordance with the terms of the rights issue, 815,074 shares at an issue 
price of AUD$0.50 each, along with 407,537 free attaching Listed Options, have 
been issued to Polo today. 
 
 
Polo also exercised rights in the recent rights issue to acquire a further 
525,000 shares at an issue price of AUD$0.50 each, along with 262,500 free 
attaching Listed Options. 
 
 
The total consideration paid for the 1,340,074 shares was AUD$670,037 which was 
paid out of Polo's existing cash balances. 
 
 
Following the exercise of rights and take up of Shortfall Securities, Polo is 
interested in 14,130,074 Ordinary shares in Berkeley, representing approximately 
11.44 per cent of its issued share capital. 
 
 
Additionally, Polo now has 5,670,037 options over new Ordinary shares in 
Berkeley, exercisable at AUD$0.75 each, on or before 15 May 2013. 
 
 
 
 
 
 
Contacts: 
 
 
+--------------------------------------------------+------------------------+ 
| Polo Resources Limited                           |  + 27 82 404 36 37     | 
| Neil Herbert, Managing Director                  |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
| Canaccord Adams Limited                          |  + 44 (0) 20 7050 6500 | 
| Mike Jones / Ryan Gaffney                        |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
| Financial Dynamics                               |  + 44 (0) 20 7831 3113 | 
| Ben Brewerton / Ed Westropp                      |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
 
 
About the Company 
Polo is an emerging energy company focused on acquiring and developing advanced 
stage coal and uranium properties. For complete details on Polo Resources 
Limited, management encourages investors and interested parties to view its 
public documents filed on AIM Exchange at www.poloresources.com. 
 
 
CAUTIONARY STATEMENT 
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. 
 
 
ENDS 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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