Result of General Meeting (1722U)
16 Dicembre 2011 - 4:09PM
UK Regulatory
TIDMCRO
RNS Number : 1722U
Creon Corporation PLC
16 December 2011
For immediate release:16 December 2011
Creon Corporation plc
("Creon", "the Company" or "the Group")
Result of General Meeting
The Board of Creon Corporation plc (AIM: CRO.L) is pleased to
announce that, following the general meeting of shareholders of the
Company ("Meeting") held earlier today, all proposed resolutions
have been duly passed.
Accordingly, the Directors are pleased to confirm that
restoration in trading of the Company's ordinary shares on AIM will
commence at 7:30 a.m. on Monday 19 December 2011.
Application for the admission of 278,000,000 New Ordinary Shares
has been sought and admission is expected to occur on 19 December
2011. Following admission the Company's share capital will comprise
322,190,545 ordinary shares of 0.1 pence each and 44,190,545
Deferred Shares of 0.9p each. The Deferred Shares will not be
admitted to trading on AIM. It is the intention of the Board to
purchase the Deferred Shares in due course in accordance with the
provisions of the new Articles of Association of the Company
adopted at the Meeting.
In addition, the Board is pleased to confirm that shareholders
have approved changing the Company's name to Creon Resources plc .
The Directors expect the change to be effected later today and
trading in the new name is expected to commence at 7:30 a.m. on
Monday 19 December 2011. The Company's ISIN and TIDM will remain
unchanged.
Board Changes
Mr Robert Eijkelhof, Non Executive Director, has resigned from
the Board with effect from the conclusion of the Meeting. The Board
wishes to thank Robert for his invaluable contribution to the
Company and wishes him well for the future.
The Company is pleased to confirm the appointment of Mr Aamir
Ali Quraishi, as detailed in the circular to shareholders of 30
November 2011. There are no further disclosures pursuant to AIM
Rule 17, Schedule Two (g) in respect of Aamir's appointment.
Further information please contact:
Creon Resources plc
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Guus Berting, Executive Director Tel: +44 (0) 7833 461 142
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Daniel Stewart & Company plc
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Noelle Greenaway/James Felix Tel: + 44 (0) 20 776 6550
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GTH Media Relations
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Toby Hall/Suzanne Johnson-Walsh Tel: + 44 (0) 20 3103 3900
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Note to Editors:
It is proposed that the Company's Investment Policy will be to
invest principally, but not exclusively in the resources and/or
resources infrastructure sectors, with no specific national or
regional focus. The Company may be either an active investor and
acquire control of a single company or it may acquire
non-controlling shareholdings.
The proposed investments to be made by the Company may be either
quoted or unquoted; made by direct acquisition or through farm-ins;
may be in companies, partnerships, joint ventures; or direct
interests in resources projects. Target investments will generally
be involved in projects in the exploration and/or development
stage. The Company's equity interest in a proposed investment may
range from a minority position to 100 per cent. ownership.
The Company will initially focus on projects located in the
Middle East and Asia but will also consider investments in other
geographical regions.
The Company will identify and assess potential investment
targets and where it believes further investigation is required,
intends to appoint appropriately qualified advisers to assist.
The Company proposes to carry out a comprehensive and thorough
project review process in which all material aspects of any
potential investment will be subject to rigorous due diligence, as
appropriate. It is likely that the Company's financial resources
will be invested in a small number of projects or potentially in
just one investment which may be deemed to be a reverse takeover
under the AIM Rules.
Where this is the case, it is intended to mitigate risk by
undertaking an appropriate due diligence process. Any transaction
constituting a reverse takeover under the AIM Rules will require
Shareholder approval. The possibility of building a broader
portfolio of investment assets has not, however, been excluded.
The Company intends to deliver shareholder returns principally
through capital growth rather than capital distribution via
dividends. Given the nature of the Company's Investing Policy, the
Company does not intend to make regular periodic disclosures or
calculations of net asset value.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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