Result of General Meeting

RNS Number : 8757T

Thor Mining PLC

23 July 2015

 

23 July 2015

THOR MINING PLC

RESULT OF ANNUAL GENERAL MEETING

The Directors of Thor Mining PLC ("Thor" or the "Company") (AIM, ASX: THR), the Australian tungsten and gold explorer and developer, are pleased to announce that all Resolutions proposed at the General Meeting of the Company held on 23 July 2015 in London, were duly passed without amendment.

As noted in the Notice of Meeting, on 16 June 2015 the Company announced a placement of a total of 1,050,000,000 Shares together with 525,000,000 free attaching Warrants to placees identified by the Company's broker, Northland Capital Partners Limited, to raise a total of £525,000 before expenses (Placement).   On 19 June 2015 the Company issued and allotted the first tranche of those securities, comprising 175,000,000 Shares together with 87,500,000 free attaching Warrants (Tranche 1 Securities).  The issue and allotment of the remaining 875,000,000 Shares and 437,500,000 free attaching Warrants (Tranche 2 Securities) was subject to obtaining Shareholder approval for the purposes of ASX Listing Rule 7.1.

Resolutions 1 and 2 provide the directors with the appropriate authorities to issue shares and dis-apply pre-emption rights for existing shareholders. Resolutions 3, 4, 5 and 6 are sought for the purposes of the ASX listing rules for the issue of Warrants and/or Shares. Please refer to the explanatory notes to the Notice of Meeting for further information.

Application has been made to the London Stock Exchange for 875,000,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 24 July 2015.

Following Admission, the Company will have 4,103,091,211 ordinary shares of 0.01p ("Ordinary Shares") in issue with no shares held in treasury. The figure of 4,103,091,211 Ordinary Shares may be used by shareholders in the Company 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, Thor under the FCA's Disclosure and Transparency Rules.

As announced on 4 June 2015, Thor has executed an agreement to acquire the remaining 49% interest, it did not already own, in the Spring Hill gold project in Australia. The agreement was subject to ministerial assent, and approval from the Australian Foreign Investment Review Board ("FIRB"). FIRB approval has since been granted.  Once ministerial assent has been received, the consideration is payable by Thor, which includes Thor Shares to the value of A$100,000, calculated in accordance with the formula set out in the explanatory notes to the Notice of General Meeting.  The passage of resolution 5 will enable the Company to issue Shares as consideration for this acquisition. Further announcements will be made in due course.

Enquiries:

Mick Billing	[phone]	Thor Mining PLC	Executive Chairman
Ray Ridge	[phone]	Thor Mining PLC	CFO/Company Secretary
Colin Aaronson/ Harrison Clarke/ Richard Tonthat	[phone]	Grant Thornton UK LLP	Nominated Adviser
Gerry Beaney/ David Hignell John Howes/ Mark Treharne	[phone]	Northland Capital Partners Limited	Broker
Alex Walters	[phone] [phone]	Cadogan PR	Financial PR

Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email.

 

END

 

 

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