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Wednesday 13 February, 2019

Phronimos Capital

Phronimos Urges Polo Resources to Return Capital

RNS Number : 8310P
Phronimos Capital, LLC
13 February 2019

Phronimos Capital Urges Polo Resources Limited to Return Capital to Shareholders

February 13, 2019--On January 28th, 2019, Phronimos Capital, LLC, ("Phronimos") acting on behalf of beneficial shareholders of Polo Resources Limited ("Polo" or the "Company") (LON: POL), transmitted a letter to the Board of Directors (the "Board") of the Company outlining several proposals that we believe will be beneficial to all shareholders. Clients of Phronimos and other concerned shareholders of Polo supportive of the proposals outlined in the letter (including a return of capital to shareholders via a tender offer at 10p-12p per share), currently hold approximately 14.0% of the total shares outstanding.

The full text of the letter can be found at:


Investor Contact:

Sam John, CFA

[email protected]

+1 (424) 781-7871


SOURCE: Phronimos Capital, LLC


Important Information

This document sets out the views of Phronimos Capital, LLC ("Phronimos") and does not constitute a financial promotion of any kind by Phronimos or any affiliate, and the receipt of this document in no way renders you a client of Phronimos or any affiliate. The information contained in this document should not be construed as investment or tax advice, nor should it be construed as an invitation to purchase or sell any of your shares in Polo Resources Limited ("Polo" or the "Company") (LON: POL). If you are in any doubt as to the action you should take, you should seek advice from an appropriately qualified independent financial or other adviser.

The information contained in this document (which may include price or other data) is for illustrative purposes only and may not be comprehensive or up to date. In preparing this document, Phronimos has relied upon and assumed, without independent verification, the accuracy, reliability and completeness of all information available from public sources. No responsibility is accepted and no representations, undertakings or warranties are made or given, in either case expressly or impliedly, by Phronimos or any affiliate as to the reliability, accuracy, timeliness, completeness or fitness for a particular purpose of information contained in this document or as to the reasonableness of any assumptions on which any of the same is based. Additionally, neither Phronimos nor any affiliate accepts any direct or consequential liability for any errors in or reliance upon the contents of this document. Neither Phronimos nor any affiliate will be responsible for updating any information contained within this document and opinions and information contained herein are subject to change without notice. Certain figures included in this document have been subject to rounding adjustments.

The release, publication or distribution of this document in jurisdictions other than the United Kingdom may be restricted under the laws of those jurisdictions and therefore persons into whose possession this document comes should inform themselves about and observe any such restrictions. Failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction.

Phronimos is not affiliated with Polo. However, as at the date of this document, clients of Phronimos hold a long position in shares of Polo. We acquired interests in the securities of the Company based on the belief that such securities, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to Phronimos, and the availability of securities of the Company at prices that would make the purchase or sale of such securities desirable, Phronimos may seek to increase or decrease its long position in the Company.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit

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