Managing Director Appointed


 

TIDMPRL 
 
RNS Number : 9935R 
Polo Resources Limited 
11 May 2009 
 

11 May 2009 
 
 
 
 
Polo Resources Limited 
("Polo" or the "Company") 
 
 
Managing Director Appointed 
 
 
Following the successful completion of the joint venture with Peabody Energy 
Corporation and Polo's agreement to acquire interests in the share capital of 
A-Cap Resources Limited and Berkeley Resources Limited and the acquisition of a 
significant interest in Extract Resources Limited, Polo Resources Limited (AIM: 
PRL) today announces that it has resolved to restructure the Board of Directors 
with immediate effect.  The new composition of the Board will be: 
 
 
Stephen Dattels        Executive Chairman 
Neil Herbert           Managing Director 
Paul Ingram           Executive Director and Chief Executive Officer for 
Australia 
Tony Bainbridge        Executive Director and Chief Executive Officer for 
Mongolia 
Guy Elliott              Senior Non-Executive Director 
Harald Van Hoeken   Non-Executive Director 
 
 
Stephen Dattels, Executive Chairman said: "Neil Herbert's appointment as 
Managing Director is an important step for Polo as we develop our uranium 
interests. Neil has had a very successful career in the mining industry spanning 
more than a decade and we worked together on the development of UraMin Inc for 3 
years culminating in its eventual sale to Areva for US$2.5 billion in 2007. Neil 
joined the Board of Polo in 2008 and has recently concluded the agreement with 
Peabody Energy on behalf of the group." 
 
 
Following the recommendation of the Remuneration Committee, the Board has 
resolved to issue the following shares to the following Directors: 
 
 
+------------------------------------+------------------------------------+ 
|                                    |                      No. of shares | 
+------------------------------------+------------------------------------+ 
| Stephen Dattels                    |                         15,000,000 | 
+------------------------------------+------------------------------------+ 
| Neil Herbert                       |                         15,000,000 | 
+------------------------------------+------------------------------------+ 
| Guy Elliott                        |                          5,000,000 | 
+------------------------------------+------------------------------------+ 
 
 
In addition the Board has resolved to issue 15,000,000 shares to Regent Advisors 
LLC, an advisory company wholly owned by Michael Beck operating out of Sarasota, 
Florida. 
 
 
All the above awards are in consideration of the additional services rendered to 
the Company in connection with the successful completion of both the Joint 
Venture in respect of the Group's Mongolian coal and uranium interests and the 
acquisition of uranium interests outside Mongolia. All such issues are 
conditional upon admission of such shares to trading on AIM. 
 
 
The above shares were all issued at a price of 3.775 pence per share.Application 
has been made for the 50,000,000 shares detailed above to be admitted to trading 
on AIM and it is expected that they will be admitted on 15 May 2009. 
 
 
 
 
Additional information 
 
 
Following the share awards listed above, Mr Dattels is interested in a total of 
102,714,286 Ordinary Shares, representing approximately 4.69 per cent of the 
issued ordinary share capital, Mr Herbert now has an interest in 49,189,286 
Ordinary Shares representing approximately 2.25 per cent of the issued ordinary 
share capital of the Company and Mr Elliott is interested in a total of 
25,378,571 Ordinary Shares, representing approximately 1.16 per cent of the 
issued ordinary share capital. 
 
 
From Admission, the Company's issued capital will include 2,186,645,623 ordinary 
shares of no par value each. None of these common shares are held in 
Treasury. 
 
 Therefore the total number of voting rights in the Company from 
Admission will be 2,186,645,623. 
 
 From Admission, the above figure of 
2,186,645,623 may be used by shareholders as the denominator for the 
calculations by which they will determine if they are required to notify their 
interest in, or change to interest in, the Company under the FSA's Disclosure 
and Transparency Rules. 
 
 
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 
 
 BOAFBLLFKEBBBBF
Polo Res.(See LSE:POL) (LSE:PRL)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024