Result of EGM
21 September 2009 - 7:57PM
UK Regulatory
TIDMCGM
RNS Number : 3778Z
China Goldmines PLC
21 September 2009
China Goldmines plc ("CGM" or the "Company")
RESULTS OF GENERAL MEETING
CGM announces that, at the General Meeting of the Company held earlier this
morning Resolution 1 was duly passed. The Disposal (as described in the Circular
sent to shareholders on 1 September 2009) has now been approved and is expected
to complete on 3 October 2009 subject to the remaining conditions being met or
waived.
Immediately prior to the meeting the Board withdrew Resolution 2 relating to the
Company's investing policy, despite those proxies which were received validly
indicating that Resolution 2 would have been passed. After due consideration
Resolution 2 was withdrawn due to a procedural discrepancy on a single voting
block which, had it been lodged validly, would have influenced the outcome of
the Resolution. The Board believes that the decision to withdraw this Resolution
was in the best interests of all shareholders.
The Board will focus on the disposal of the assets, scheduled to close on 3
October 2009, as a priority and will submit a revised investment policy to
shareholders for approval at a future general meeting to be held no later than
31 December 2009. The Directors intend to consult further with shareholders in
relation to the revised investing strategy.
A further announcement will be made following this consultation process.
For further information please contact:
+----------------------------------+------------------------------------+
| China Goldmines plc | +61 894 88 8882 |
| Clive Donner (Non Executive | +86 731 489 0755 |
| Chairman) | |
| Frank Vanspeybroeck (CEO) | |
| | |
+----------------------------------+------------------------------------+
| Threadneedle Communications | +44 (0)20 7653 9855 |
| Laurence Read | |
+----------------------------------+------------------------------------+
| Brewin Dolphin Ltd (Nomad) | +44 (0)131 529 0276 |
| Alex Dewar | |
+----------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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