Results of AGM and GM

RNS Number : 4796E

Pathfinder Properties PLC

21 December 2009

FOR IMMEDIATE RELEASE 21 December 2009

PATHFINDER PROPERTIES PLC

("Pathfinder" or the "Company")

Results of AGM and GM

The Company announces today that at the Annual General Meeting and General Meeting of the Company held today all resolutions were duly passed.

As a result the following changes have been implemented by the Company:

Investing Policy

Pathfinder's proposed strategy is to establish a new investing policy to acquire mainly significant minority interests in both listed and unlisted companies and/or assets which the Directors believe represent opportunities to create Shareholder value, specifically within the natural resource sectors, with a focus on Central Asia and Sub-Saharan Africa although such companies may operate worldwide. The focus will be on metals and mature resource situations with both established resources and the ability to increase these through additional exploration and also bring these into production. The Company will be an active investor.

Such investments may result in Pathfinder acquiring the whole or part of a company or project. Pathfinder's investments may take the form of equity, joint venture debt, convertible instruments, licence rights, or other financial instruments as the Directors deem appropriate.

The Directors believe that their broad collective experience in the areas of acquisitions, accounting, corporate and financial management together with the opinion of consultant experts in the evaluation and exploitation of potential investments, which will assist them in the identification and evaluation of suitable opportunities, will enable the Company to achieve its objectives. Internationally recognised competent persons will be commissioned to prepare reports on the projects being considered by the Company, where the Directors consider it necessary. The Directors may undertake the initial project assessments themselves with additional independent technical advice as required.

If the strategy is approved, there is no limit on the number of projects in which the Company may invest, and the Company will consider possible opportunities anywhere in the World. The Directors are currently reviewing potential investment and acquisition opportunities in line with Pathfinder's strategy but have not, at this stage, commissioned any due diligence nor entered into any firm commitment in connection with any investments or acquisitions, save as set out in this Document. The Company intends to be a long-term investor and the Directors will place no minimum or maximum limit on the length of time that any investment may be held.

As the Ordinary Shares are traded on AIM this provides a facility for Shareholders to realise their investment in the Company. The attention of Shareholders is drawn to "Risk Factors" set out in Part IV of this Document. In addition, the Directors may consider from time to time other means of facilitating returns to Shareholders including dividends, share repurchases, demergers, schemes of arrangement or liquidation.

Directors

In addition Nicholas Trew, James Normand and Mark Edmonds have joined Gerry Lee as Directors whilst Edward Azouz has retired as Executive Chairman and Jeffrey Azouz and Dr John Guy Davies have both retired as Non-Executive Directors of the Company as well as Victor Lipien who has resigned as a Non-Executive Director of the Company

New Ordinary Shares

As a result of the Capital Reorganisation the Company now has an issued Ordinary Share Capital of 7,997,139 Ordinary Shares of 0.1p each and 79,971,393 Deferred Shares of 9.9p each.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence on 22 December 2009.

Name Change

As a result of the Company's business changing from that of a property development company to an investing company, the Company has agreed to change its name to 'Pathfinder Minerals Plc'. This change is expected to come effective shortly and an announcement will be made when this is completed. As a result, the Company's website will also change to the following: www.pathfinderminerals.com.