Result of General Meeting

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 for						%		Votes against	%	Total votes cast	Votes withheld
1	To approve the Acquisition of PR Ploutonic Resources 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 Chief Executive Officer	[e-mail] [phone]
Novum Securities
Jon Belliss	[phone]

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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