Result of AGM

RNS Number : 1036M

Niger Uranium Limited

22 January 2009

For immediate release

22 January 2009

NIGER URANIUM LIMITED

('Niger Uranium' or 'the Company')

Result of Annual General Meeting ('AGM')

The Board of Niger Uranium is pleased to announce that at its AGM held yesterday, all resolutions, including the adoption of new Articles of Association, were duly passed on a poll.

Result of AGM

The resolutions proposed at the AGM were passed as follows:

1. Receiving and adopting the Accounts

At the AGM, 47,947,905 votes were cast in favour of resolution one, constituting 42.37 per cent. of the issued share capital of the Company entitled to vote on the resolution. These votes were received from 37 shareholders.

At the AGM the Company received 40,960,321 votes against resolution one, constituting 36.19 per cent. of the issued share capital of the Company entitled to vote. These votes were received from 3 shareholders.

2. Auditor's Reappointment and Remuneration

At the AGM the Company received 40,960,321 against resolution one, constituting 36.19 per cent. of the issued share capital of the Company entitled to vote. These votes were received from 3 shareholders.

3. Remuneration of Directors

At the AGM, 47,945,902 votes were cast in favour of resolution one, constituting 42.37 per cent. of the issued share capital of the Company entitled to vote on the resolution. These votes were received from 36 shareholders.

4. Adoption of New memorandum & Articles of Association

New Articles of Association

The new Articles of Association are available form the Company's website. A summary of the principal changes in the new Articles of Association is set out below:

New Regulations 34 to 39 incorporate provisions similar to Rule 9 of the City Code, whereby a person, or persons acting in concert, is prevented from acquiring a stake in the Company of 30 per cent. (or greater) of the Company's issued shares from time to time, without making an offer for the remainder of the Company's issued shares ;
New Regulations 40 to 52 requires all Shareholders with an interest in ordinary shares of the Company exceeding three per cent. of the Company's issued shares from time to time, to notify the Company of such interest, and identify the shares in which it is interested;
New Regulations 53 to 63 allow the Company to make investigations into the interests of Shareholders in ordinary shares. Non-cooperation by any Shareholder may result in the Company serving a default notice imposing restrictions on the ordinary shares of the defaulting Shareholder including suspension of the right to vote or attend meetings of Shareholders, suspension of the right to receive any dividends on ordinary shares held by them, or suspension of the right to transfer or agree to transfer ordinary shares held by them; and
Regulations 84 and 85, as amended, mean that a general meeting of the Company will be quorate if any 30 per cent. of shareholders entitled to vote are present in person or by proxy (the figure falls to 10 per cent. if a meeting is adjourned). The equivalent figure in the old Articles was 50 per cent.