Result of EGM

RNS Number : 7879O

African Mining & Exploration PLC

24 September 2013

 

African Mining and Exploration plc

("AME" or "the Company")

Results of General Meeting, Issue of Equity and Update re Change of Name

African Mining & Exploration plc (AIM: AME) announces that at the general meeting of the Company held today, all resolutions put to the meeting were duly passed.

Pursuant to the passing of the resolutions, and as previously announced, David Archer, CEO, will make a further investment in the Company of £125,000 for 5,555,556 new ordinary shares in the Company, at a price of £0.0225.  As part of the subscription agreement and following the approval of shareholders David Archer will also be issued with the balance of 6,432,888 warrants to subscribe for ordinary shares with an exercise price of £0.03.  The warrants have an exercise period of 5 years from the date of issue.

Application will be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission").  Admission is expected to occur at 8.00 a.m. on 30 September 2013.  Following Admission, the total number of voting rights in the Company will be 106,435,530 ordinary shares.  This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules. 

Additionally, the Company will change its name to Savannah Resources plc effective on or around 1 October 2013 and will also change its ticker symbol on the London Stock Exchange from "AME" to "SAV" on the same date.

For further information please visit www.ameplc.co.uk or contact:

David Archer	African Mining & Exploration plc	Tel: [phone]
James Maxwell / Jenny Wyllie	N+1 Singer	Tel: [phone]

 

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