Result of General Meeting, et

RNS Number : 1256P

Independent Resources PLC

09 July 2010

 



Independent Resources plc

(the 'Company')

Result of General Meeting

The Placing

Directors' Dealings & Holdings in Company

Total Voting Rights

Result of General Meeting

The Company is pleased to announce that all of the resolutions proposed at the Company's general meeting held today were duly passed.

The Placing

Pursuant to the announcement made by the Company on 23 June 2010, 4,263,000 ordinary shares of 1p each in the capital of the Company ("Placing Shares") have been placed with institutional and other investors at a price of 60 pence per ordinary share (the "Placing").  The net proceeds of the Placing will be utilised by the Company in the development of its various business interests and for general working capital purposes.

Application has been made for the Placing Shares to be admitted to trading on AIM. It is expected that dealings in the Placing Shares will commence on 12 July 2010 (the 'Admission'). The Placing Shares will, upon issue, rank pari passu in all respects with the existing issued ordinary shares of the Company.

Directors' Dealings and Holdings in Company

Immediately following Admission, the Company's directors will hold the following interests in ordinary shares of the Company:

Name	Number of Existing Ordinary Shares	Percentage of Existing Ordinary Shares	Ordinary Shares acquired in the Placing	Number of Ordinary Shares in Enlarged Share Capital	Percentage of Ordinary Shares in Enlarged Share capital
Grayson Nash(1)	6,526,538	15.7%	200,000	6,726,538	14.7%
Roberto Bencini(2)	6,056,188	14.6%	20,000	6,076,188	13.3%
Alan Thomas	31,667	0.1%	18,000	49,667	0.1%

⁽¹⁾Holding includes ordinary shares held by Grayson Nash LLC, in which Grayson Nash (Executive Chairman of the Company) is the majority shareholder

⁽²⁾Holding includes ordinary shares held by GAIA SRL, in which Roberto Bencini (Technical Director of the Company) is the majority shareholder

Janine Diana James, the wife of Timothy James (a Director of Independent Resources), has agreed to subscribe for 20,000 Ordinary Shares. Immediately following Admission, the Directors in aggregate, will be interested in approximately 28 per cent. of the enlarged issued share capital of the Company.

Total Voting Rights

Following Admission, the total number of ordinary shares of 1p each in issue will be 45,836,867.  There are no shares held in treasury.  Therefore the total number of voting rights in the Company will be 45,836,867.

The above figure of 45,836,867 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 Financial Services Authority's Disclosure and Transparency Rules.

--Ends--

For further information contact:

Grayson Nash
Executive Chairman
Independent Resources plc:	[phone]
Stewart Dickson
Seymour Pierce Ltd:	[phone]
Allan Piper/Simon Hudson
Tavistock Communications Ltd:	[phone]

 

END

 

 

MSCUKAARRVABRAR