China Zirconium Limited

China Zirconium Limited

June 30, 2008 12:40 ET

China Zirconium Limited Announces Results of Extraordinary General Meeting of Shareholders Held on June 27th

TORONTO, ONTARIO--(Marketwire - June 30, 2008) -

NOT FOR DISTRIBUTION TO U.S. OR U.K. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OR THE UNITED KINGDOM.

China Zirconium Limited (the "Company"), a Hong Kong Stock Exchange listed company, today announces that all ordinary and special resolutions set out in the notice of the Extraordinary General Meeting (the "EGM") contained in the information circular of the Company dated June 5, 2008 were duly passed at the EGM held at Suite 2611, Shell Tower, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong on June 27, 2008, Friday, at 3:00 pm (Hong Kong time).

The EGM was held for the purpose of facilitating the Company's proposed listing of its ordinary shares on the Toronto Stock Exchange ("TSX") and its proposed initial public offering of ordinary shares in Canada (the "Offering"). Among other things, the Company obtained the requisite shareholder approval at the EGM for: (i) a consolidation of its ordinary shares on a 10 for 1 basis (the "Share Consolidation"); (ii) a specific mandate for the issuance of ordinary shares under the Offering; (iii) amendment of the Company's Articles of Association to ensure compliance with the TSX shareholders protection requirements; and (iv) amendment of the Company's Share Option Scheme to ensure compliance with applicable provisions of the TSX Company Manual.

The Company's Hong Kong branch share registrar, Computershare Hong Kong Investor Service Limited, was appointed as the scrutineer of the votetaking at the EGM. As at the date of the EGM, the Company had 709,670,946 ordinary shares in issue. No shareholders were required to abstain from voting on any resolutions proposed at the EGM, and there were no shareholders who were only entitled to vote against any resolutions proposed at the EGM.

All conditions in connection with the Share Consolidation have been satisfied and the Share Consolidation will become effective on 30 June 2008.

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