Caerus Mineral Resources PLC Result of General Meeting (9031W)
April 28 2021 - 7:00AM
UK Regulatory
TIDMCMRS
RNS Number : 9031W
Caerus Mineral Resources PLC
28 April 2021
28 April 2021
Caerus Mineral Resources PLC
("Caerus" or the "Company") (Ticker: CMRS)
Result of General Meeting
On 8 April 2021, the Company announced agreed Heads of Terms for
the acquisition of 100% of the share capital of PR Ploutonic
Resources Limited (PRL) conditional upon shareholder approval and
subsequent completion of the transaction by way of a definitive
Share Purchase Agreement (the "SPA"). The consideration of GBP
750,000 (the "Transaction) is payable in new Ordinary shares and
conditional on the approval of the Company's shareholders.
The Company published a Notice of a General Meeting, also dated
8 April 2020, convening a General Meeting ("GM") to consider, and
if thought fit pass, an Ordinary Resolution approving the
Transaction (the "Resolution").
The Company announces that at its GM held at 9:00 am today, the
Resolution was put to the meeting by way of Proxy voting and was
duly and unanimously passed by Shareholders. The voting results are
shown below.
Votes % Votes against % Total votes cast Votes withheld
for
To approve the
Acquisition of PR
Ploutonic Resources
1 Limited 9,395,833 100 NIL 0 9,395,833 NIL
------------------------- ------------------ ---- -------------- ----------------- ---------------
1. A "vote withheld" is not a vote in law and is not counted in
the calculation of the percentages of the votes cast for and
against a resolution.
2. The number of votes validly cast were 9,395,833, representing
18.64 % of the 50,400,000 issued share capital of the Company,
being the total number of shares in issue at 5.00pm on 27 April
2021.
3. Where shareholders appointed the Chairman of the Meeting as
their Proxy with discretion as to voting, their votes were cast in
favour of the Resolution and have been included in the "For"
total.
4. Percentages are rounded to two decimal places.
The Company is pleased to note that, as a result of the
Resolution being duly passed by shareholders, the acquisition is
now unconditional, and the Transaction is expected to complete by
21 May 2021.
The background to this transaction, full text of the Resolution
and Voting Results of the GM are available on the Company's website
at www.caerusmineralresources.com.
Mike Johnson, Chairman of Caerus Mineral Resources, commented:
"We are very pleased to have received shareholder approval for this
transaction. The acquisition of PR Ploutonic Resources Ltd., will
allow us to extend our capability in the brownfield copper-gold
space in Cyprus where we will continue to focus, without
distraction, on finding and declaring mineable resources to the
JORC (2012) standard and exploiting the remaining values in the
substantial tonnages of remnant ore and waste on our
properties."
For further information , please visit
www.caerusmineralresources.com or contact:
Caerus Mineral Resources plc:
Martyn Churchouse info@caerusmineralresources.com
Chief Executive Officer +44 (0)1249 782162
--------------------------------
Novum Securities
--------------------------------
Jon Belliss +44 (0)20 7399 9425
--------------------------------
Follow us on Twitter at @CaerusMineral
About Caerus Mineral Resources plc
Caerus Mineral Resources is a copper-gold resource development
and exploration company with mineral exploration licences located
in Cyprus.
Cyprus is a member of the European Union that operates to
English common law. The Country has a well-developed infrastructure
and a climate conducive to year-round exploration.
With investors recognising copper as one of the cornerstone
metals for the Clean Energy Transition centred upon the Electric
Vehicle and Stationary Energy sectors, Caerus is working to rapidly
expand its copper exploration and production objectives. The Caerus
licence portfolio includes 14 former mines which operated with an
average head grade of approximately 2% copper.
Caerus' licence portfolio comprises brownfield sites where
historic mining has taken place and greenfield licences where there
has been no systematic exploration. The Brownfield sites and the
former high-grade copper-gold mines they host are evidence of rock
types and structures conducive to Volcanogenic Massive Sulphide
("VMS") mineralisation. As VMS deposits characteristically occur in
camps or clusters, it is the Company's view that its licences are
prospective for both extensions to existing or mined-out orebodies
together with new discoveries.
The combination of brown and greenfield exploration provides
optionality with multiple target types and the opportunity for the
Company to quickly build a resource portfolio that can be
commercially developed.
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