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Blenheim Natural Res (TSI)

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Wednesday 12 April, 2017

Blenheim Natural Res

Notice of General Meeting

RNS Number : 3719C
Blenheim Natural Resources PLC
12 April 2017
 

12 April 2017

 

BLENHEIM NATURAL RESOURCES PLC

("Blenheim" or the "Company")

Notice of General Meeting

Blenheim announces that it has today sent a notice to shareholders convening a general meeting, which is to be held at 12 noon on Friday, 28 April 2017 at 4th Floor, 40 Queen Street, London EC4R 1DD (the "General Meeting").

The purpose of the General Meeting is for the directors to seek authority from shareholders to allot and issue up to 75,000,000 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") to Harry Sutherland (the "Seller") as partial consideration for the conditional acquisition of a 30 per cent interest in Nashwan Holdings Ltd ("Nashwan"), as announced by the Company on 30 March 2017. The remaining consideration for the investment in Nashwan is £200,000 in cash (the "Cash Consideration").

Subject to receiving the authority to do so from shareholders, the issue and allotment of the 75,000,000 Ordinary Shares, and the payment of the Cash Consideration, is conditional upon Nashwan successfully being granted exploration licences over both its Menianbala and Djidje projects within 90 days of the date of the share purchase agreement between the Seller and Blenheim, or by such other date agreed between the parties.

The Company is also seeking the requisite authorities to issue Ordinary Shares, or to issue securities with rights over Ordinary Shares, on a non-pre-emptive basis up to an aggregate nominal amount equal to the nominal amount of the current issued share capital, in order to raise funds to enable the Company to make further investments in accordance with its investing policy. The authority to issue and allot Ordinary Shares up to an aggregate nominal amount of £398,577 will also give the Company the flexibility to consider issuing Ordinary Shares as consideration for future investments.

The notice convening the general meeting will shortly be made available on the Company's website: www.blenheimnaturalresources.com

Ends

For further information please contact:

Chris Ells

Blenheim Natural Resources Plc

+44 (0) 1622 844601

 

 

 

Colin Aaronson/Jamie Barklem/ Daniel Bush

Grant Thornton UK LLP

+44 (0) 20 7383 5100

 

 

 

Nick Emerson

SI Capital Ltd

+44 (0)1483 413500

Lucy Williams / Duncan Vasey

Peterhouse Corporate Finance Limited

+44 (0) 20 7469 0932

Colin Rowbury

Cornhill Capital Limited

+44 (0) 20 7710 9610

The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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