Acquisition of Shares


 

TIDMPRL TIDMBKY 
 
RNS Number : 3002S 
Polo Resources Limited 
15 May 2009 
 

15 May 2009 
 
 
Polo Resources Limited 
("Polo" or the "Company") 
 
 
Acquisition of shares in Berkeley Resources Ltd and Grant of Options 
 
 
Polo Resources (AIM: PRL), the mining and investment company with interests in 
coal and uranium, announces that all of the conditions precedent for the issue 
of 10 million new shares in Berkeley Resources Ltd ("Berkeley"), as set out in 
the Company's announcement of 23 March 2009, have now been satisfied and has 
completed the subscription for 10 million new shares in Berkeley. Polo has also 
been granted 5 million attaching options over new Ordinary Shares in Berkeley, 
exercisable at A$0.75 each, within four years of the date of issue. 
 
 
The total consideration paid for the 10 million shares was A$5 million, which 
was paid out of Polo's existing cash balances. 
 
 
Following completion Polo is interested in 10,500,000 Ordinary Shares in 
Berkeley, representing approximately 8.93 per cent. of its issued share capital. 
 
 
Mr Stephen Dattels, Executive Chairman of Polo Resources Limited, has also been 
appointed as a Non-Executive Director of Berkeley with effect from today. 
 
 
Neil Herbert, Managing Director of Polo Resources, said: 
 
 
"We are very pleased to have completed the acquisition of shares In Berkeley 
Resources. We see Berkeley as an important strategic stake for Polo and is 
directly in line with our focus on uranium exploration and production 
investment. 
 
 
"We look forward to working with Berkeley in the future." 
 
 
 
 
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 uranium and coal 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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Polo Res.(See LSE:POL) (LSE:PRL)
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