SOURCE: EMED Mining Public Limited
NICOSIA, CYPRUS--(Marketwire - Dec 19, 2012) -
TSX: EMD 19th December 2012
EMED Mining Public Limited("EMED Mining" or the "Company")
Results of General Meeting ("GM" or the "Meeting")
Update of Progress at Rio Tinto Copper Project
Further to its announcements on the 14th and 28th of November 2012
relating to a proposed aggregate funding package of USD50 million with
RK Mine Finance (Master) Fund II LP ("Red Kite"), EMED Mining, the
Europe-based minerals development and exploration company is pleased to
announce that all resolutions proposed at the General Meeting held
today in at 10.00 am (CET) were duly passed by the members.
The passing of the resolutions satisfies the penultimate material
outstanding condition to the subscription by Red Kite (the"Subscription")
of the second tranche of 13,829,787 new ordinary shares
of 0.25 pence each in the Company ("Ordinary Shares") at a price of
14.8 pence per share. The final condition to closing of the second
tranche of the Subscription is admission of such new Ordinary Shares to
trading on AIM ("Admission"). Application has been made to the London
Stock Exchange for Admission which is expected to become effective on
21 December 2012.
Following Admission, EMED Mining will have 1,177,165,948 Ordinary
Shares in issue and Red Kite will have a holding representing
approximately 5.4% thereof.
During the Meeting, the Managing Director and CEO of EMED Mining, Mr
Harry Anagnostaras-Adams, also presented an update to shareholders on
the status of the Company's Rio Tinto Copper Project (the "Project").
A power-point presentation is available on the Company's website and a
webinar will be conducted for shareholders wishing to submit questions
to the Managing Director at 4.00 pm (3.00pm GMT and 10.00am EST).
Click on, or paste the following link into your web browser, to view
the full announcement:
This information is provided by RNS
The company news service from the London Stock Exchange