Notice of General Meeting

RNS Number : 2255M

Vane Minerals PLC

26 January 2009

 



26th January 2009

VANE Minerals Plc ('VANE' or the 'Company')

Notice of General Meeting

VANE announces that the Company has today sent a circular to shareholders and a notice convening a General Meeting. 

The General Meeting has been convened in accordance with Section 142 of the Companies Act 1985, which requires a public company to convene a General Meeting of its shareholders where its net assets are half or less of its called up share capital. The Company's unaudited interim results for the 6 month period ended 30 June 2008 showed that the Company's net assets were less than half of the called up share capital as at that date and this has been confirmed by the Company's latest management accounts. 

The Directors are of the opinion that the Company is presently able to continue to trade normally without any material changes being required to its assets or capital and that therefore no specific steps are currently required to address the situation, although they will continue to regularly monitor the net asset position of the Company.  In light of that belief, it is anticipated that the Chairman of the General Meeting will simply propose a sole resolution to the General Meeting to adjourn it until the date of the Company's next AGM, in order that the situation can be discussed between Shareholders to the extent that it remains relevant at that date.

The General Meeting is to be held at the offices of Thomas Weisel and Partners, 5th Floor, 10 Dominion Street, London EC2M 2EE on 26th February 2009 at 12 noon.

The circular containing further details of the matters to be discussed at the General Meeting can be found on the Company's website at www.vaneminerals.com  

Matthew Idiens, VANE's Commercial Director commented 'The General Meeting is called in line with section 142 of the Companies act but does not in any way effect trading in VANE or any area of operations'.

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For further information, please contact:

VANE Minerals Plc	[phone]
Matthew Idiens
Ambrian Partners Limited	[phone]
Richard Brown
Thomas Weisel Partners	[phone]
Paul Newman
Threadneedle Communications	[phone]
Laurence Read/Beth Harris	[phone]

Notes to Editors

VANE Minerals is an exploration company, with a cash flow, financed in part by production from the silver/gold Diablito Mine and mill in Western Mexico. The Company has assembled a highly qualified and experienced management team with a proven track record in exploration and development. VANE now has projects in Mexico, Paraguay and the US, incorporating exposure to gold, silver, copper and uranium. The Company's principal objective is to utilise the funds generated from Diablito to identify and explore undervalued and under-explored projects, create value in those projects and realise that value through exploitation or disposal to third parties.  For further information, please visit www.vaneminerals.com.

 

END

 

 

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