EGM Requisition

RNS Number : 8596F

Niger Uranium Limited

20 January 2010

 

For immediate release

20 January 2010

Niger Uranium Limited

("Niger Uranium" or the "Company")

Significant Shareholder

EGM Requisition

The Company announces that NWT Uranium Corp. has confirmed to the Company today that it has a direct and indirect interest in aggregate of 39,768,339 ordinary shares in the capital of the Company ("Ordinary Shares") representing 35.13 per cent. of the Company's issued share capital. 

The Company has received a requisition (the "Requisition") to convene an Extraordinary General Meeting ("EGM") under Section 82 of the BVI Companies Act, 2004, as amended (the "Act") and the memorandum and articles of association of the Company from NWT Uranium Corp. (the "Requisitionist") which states that it is the holder of not less than thirty (30) per cent. of the outstanding shares of the Company.

The proposed resolutions of the EGM are as follows:

• David de Jongh Weill, Chairman, be removed as a Director of the Company pursuant to Section 114 of the Act;

• Wayne Isaacs be elected as a Director of the Company pursuant to Section 113 of the Act;

• The Board of directors of the Company be authorised to take such steps as may be necessary to requisition a general meeting of Kalahari Minerals Plc ("Kalahari"), in which the Company owns thirteen (13) per cent. of the outstanding shares, with a view to Kalahari's members passing a resolution to affect the distribution by Kalahari of not less than ninety (90) per cent. of the shares that Kalahari owns in Extract Resources Limited ("Extract") to the shareholders of Kalahari (such distribution resulting in the receipt by the Company of 11,677,531 shares in Extract).  

The Board of the Company will be reviewing the requisition and where necessary seeking additional clarification from the Requisitionist. A further announcement will be made by the Company with additional information in due course.

Enquiries:

Niger Uranium Limited

David Weill, Chairman      

Tel: [phone]

Nominated Adviser, Beaumont Cornish Limited  

Tel: [phone]

Michael Cornish

ENDS

 

END

 

 

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