Result of Meeting

RNS Number : 0168D

Niger Uranium Limited

24 November 2009

 

For Immediate Release

24 November 2009

Niger Uranium Limited

("Niger Uranium" or "the Company")

Result of Meeting Shareholders of the Company

Further to the Meeting of Shareholders of the Company ("Meeting") held earlier today, the Company announces that the resolution to approve the special dividend was rejected by Qualifying Shareholders of the Company on a poll. 

Accordingly, the Special Dividend will not proceed and the Company therefore retains its entire holding of Kalahari Shares.

At the Meeting, 37,938,153 votes were cast in favour of the resolution, representing 45.69 per cent. of the votes cast at the Meeting.  These votes were received from 68 Qualifying Shareholders.

At the Meeting, 45,086,955 votes were cast against the resolution, representing 54.31 per cent. of the votes cast at the Meeting. These votes were received from 5 Qualifying Shareholders.

The Company therefore retains its entire holding of 27,860,000 Kalahari Shares which based on the Kalahari Minerals' closing share price of 181.5p on 23 November 2009, the last practicable date before the publication of this announcement, was valued at £50,565,900. 

Enquiries:

Niger Uranium Limited

David Weill, Chairman               

Tel: [phone]

Nominated Adviser                

Beaumont Cornish Limited

Michael Cornish 

Tel: [phone]

The following definitions apply throughout this announcement unless the context requires otherwise:

"Company" or "Niger Uranium"	Niger Uranium Limited (incorporated and registered in the BVI with registered number 1405944) whose registered office is at Walkers Chambers, P.O. Box 92, Road Town, Tortola, British Virgin Islands;
"Demerger"	the proposed demerger of the Kalahari Shares to Shareholders by way of the Special Dividend;
"Kalahari Shares"	the ordinary shares of Kalahari Minerals owned by Niger Uranium;
"Kalahari Minerals"	Kalahari Minerals PLC, a public company incorporated and registered in England with company number 05294388 whose registered office is at c/o South China Resources PLC 1B, 38 Jermyn Street, London SW1Y 6DN;
"Meeting of Shareholders"	the meeting of shareholders to be held at 2.00 p.m. at The Library, The Claremont Hotel, 18-22 Loch Promenade, Douglas, Isle of Man, IM1 2LX on 24 November 2009, notice of which is set out in the Circular, or any adjournment of that meeting;
"Ordinary Shares"	the existing issued and outstanding ordinary shares of the Company, each of US$0.01 each, which are admitted to trading on AIM;
"Qualifying Shareholders"	Shareholders on the register of members of the Company at the Record Date;
"Shareholders"	holders of Ordinary Shares in the Company;
"Special Dividend"	the proposed dividend in specie by the Company of the Kalahari Shares to its Shareholders pro rata to their interest in the Company;

ENDS

 

END

 

 

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