Belmore Resources (Holdings) plc

March 27, 2008 13:05 ET

Result of AGM

LONDON, UNITED KINGDOM--(Marketwire - March 27, 2008) - The Board of Belmore, a minerals exploration company with a focus on projects in the Republic of Ireland, announces that at the Company's Annual General Meeting held yesterday at Longboat, 56 Sir John Rogersons Quay, Dublin 2 , all the following resolutions were duly passed.

Ordinary Business:

(1) To consider and, if approved, adopt the Accounts for the year ended 31st August 2007 and the report of the Directors and Auditors thereon.

(2) To re-elect Walter Ian Logan Forrest as a Director

(3) To authorise the Directors to fix the remuneration of the Auditors.

Special Business:

(4) To consider and, if thought fit, to approve the following resolution as an Ordinary

Resolution:

'That, for the purpose of Section 20 of the Companies (Amendment) Act, 1983, the Directors of the Company be and are hereby generally and unconditionally authorised to exercise all powers of the Company to allot and issue relevant securities (within the meaning of Section 20(10) of the said Act) up to a maximum amount of the authorised but un-issued share capital of the Company. The authority hereby conferred shall expire on the date of the next Annual General Meeting or, if earlier, the date being 15 months after the passing of this resolution, unless previously renewed, varied or revoked by the Company in General Meeting save that the Company may make an offer or agreement before the expiry of this authority which would or might require relevant securities to be allotted or issued after this authority has expired and the Directors may allot and issue relevant securities in pursuance of any such offer or agreement as if the authority conferred hereby had not expired.

(5) To consider and if thought fit, to approve the following resolution as a Special

Resolution:

'That, subject to the passing of Resolution No. 4 before this meeting, the Directors of the Company be and are hereby empowered pursuant to Section 24 of the Companies (Amendment) Act, 1983, with such power expiring on the date of the next Annual General Meeting of the Company or, if earlier, the date being 15months after the passing of this resolution, to allot equity securities (within the meaning of Section 23 of the said Act) of the Company for cash pursuant to the authority conferred on the Directors by Resolution No.4 as if sub-section 1 of the said Section 23 did not apply to any such allotment, provided that this power shall be limited to:

(a) the allotment of equity securities in connection with any offer of equity securities open for any period fixed by the Directors by way of rights, open offer or otherwise in favour of Ordinary Shareholders but subject to such exclusion or other arrangements as the Directors may deem necessary or expedient to deal with legal or practical problems in respect of overseas shareholders, fractional entitlements or otherwise, and

(b) (in addition to the authority conferred by paragraph (a) of this Resolution No.5) the allotment of equity securities up to an aggregate nominal value of ?4,686,098 of the issued share capital of the company and shall expire on the date of the next Annual General Meeting of the Company or, if earlier, the date being 15 months after the passing of this resolution, PROVIDED THAT the Company may, before such expiry, make an offer or agreement which would or might require relevant securities to be allotted or issued after this authority has expired and the Directors may allot and issue relevant securities in pursuance of any such offer or agreement as if the authority conferred hereby had not expired.

The directors of the issuer accept responsibility for this announcement

Notes to Editors

Belmore is a minerals exploration company with a focus on projects in the Republic of Ireland. Whilst prospects for any mineral will be considered, priority will be given to the Company's zinc exploration properties in County Clare.

Clare Blocks (Republic of Ireland): Belmore has a 50% interest in six prospecting licences covering 267.75 sq kilometres and 100% interest in three prospecting licences covering 86 sq kilometres. Previous exploration identified a high-grade resource of zinc and lead rich massive sulphides (approximately 400,000 tonnes @ 12% zinc plus lead and 75g/t silver) in the area of Milltown.

Donegal Blocks (Republic of Ireland): Belmore has 100% interest in two prospecting licences covering 80.76 sq kilometres.

For further information please visit www.belmoreresources.com

Contact Information

  • Belmore Resources (Holdings) Plc
    Patrick Mahony
    00 35387 681 2883
    Website: www.belmoreresources.com
    or
    Bishopsgate Communications Ltd
    Maxine Barnes/ Nick Rome
    020 7562 3350 or Mobile: 07860 489 571
    or
    VSA Capital Limited
    Paul Renken
    020 7096 9580