EMED Mining Public Limited - Passing of resolutions and update on subscription
12.03.2012 | CNW
NICOSIA, Cyprus, March 12, 2012 /CNW Telbec/ - EMED Mining Public Limited ("EMED Mining" or the "Company") (AIM: EMED) (TSX: EMD). Further to its announcements on the 6th and 17th of February 2012 relating to a proposed aggregate funding package of US$30 million with Yanggu Xiangguang Copper Co. Ltd ("XGC"), EMED Mining Public Limited ("EMED Mining" or "the Company"), the Europe-based minerals development and exploration company, is pleased to announce that all resolutions put to members at the Extraordinary General Meeting ("EGM") of the Company held today at 10.00 a.m. (Cyprus time) have been passed.EMED Mining is also pleased to confirm that it has now received all approvals required in connection with the subscription by XGC's subsidiary of 105,378,519 new ordinary shares in the Company (the "Subscription Shares") at 9 pence per share under the subscription agreement dated 6 February 2012 (the "Subscription Agreement"), including the previously-mentioned approvals required from the Chinese National and Development Committee and the Toronto Stock Exchange. The only material outstanding condition under the Subscription Agreement is the admission of the Subscription Shares to trading on AIM becoming effective ("Admission"). The Company will shortly be making an application for Admission which is expected to become effective on or about 22 March 2012.
Enquiries
EMED Mining Harry Anagnostaras-Adams +357 9945 7843
RFC Corporate Finance Stuart Laing +61 8 9480 2500
Fox-Davies Capital Simon Leathers +44 203 463 5022
Bishopsgate Communications Nick Rome/Shabnam Bashir +44 207 562 3350
Proconsul Capital Andreas Curkovic +1 416 577 9927
For further information:
Renmark Financial Communications Inc.
Peter Mahzari: pmahzari@renmarkfinancial.com
Laurence A. Lachance: llachance@renmarkfinancial.com
Media - Guy Hurd: ghurd@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
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