West African Minerals Corporation Result of General Meeting (4927B)
10 January 2018 - 10:14PM
UK Regulatory
TIDMWAFM
RNS Number : 4927B
West African Minerals Corporation
10 January 2018
10 January 2018
For immediate release
West African Minerals Corporation
("WAFM" or the "Company")
Result of General Meeting
Proposed Disposal and Special Dividend
Board change
Change of name
Result of General Meeting
The Board announces that at the General Meeting held earlier
today, the resolutions to: (1) approve the Disposal and Special
Dividend; and (2) approve the change of name of the Company to OKYO
Pharma Corporation, were duly approved by Shareholders.
Special Dividend
The Special Dividend will be paid to Shareholders on the
register of members of the Company at the Record Date (which is
close of business today). The Ferrum Shares will not directly (or
indirectly through Depositary Interests) be held in CREST, and
share certificates in respect of Ferrum Shares will be dispatched
to Shareholders as soon as is reasonably practical.
AIM Rule 15
On completion of the Disposal, the Company will have ceased to
own, control or conduct all or substantially all, of its existing
trading business, activities or assets and, in accordance with AIM
Rule 15, the Disposal constitutes therefore a fundamental change of
business of the Company. Following completion of the Disposal, the
Company will be an AIM Rule 15 cash shell and as such is required
to make an acquisition or acquisitions which constitutes a reverse
takeover under AIM Rule 14 (including seeking re-admission as an
investing company (as defined under the AIM Rules)) on or before
the date falling six months from completion of the Disposal or be
re-admitted to trading on AIM as an investing company under AIM
Rule 8 (which requires the raising of at least GBP6 million in cash
via an equity fundraising on, or immediately before, re-admission)
failing which, the Company's Ordinary Shares would then be
suspended from trading on AIM pursuant to AIM Rule 40. Admission to
trading on AIM would be cancelled six months from the date of
suspension should the reason for the suspension not have been
rectified pursuant to AIM Rule 41.
Board change
As previously announced, Andrew Gutmann has ceased to be a
Director with effect from the conclusion of the General Meeting
today on the basis that the Company is now embarking on a new
direction. The Board thanks Andrew for his support.
Change of name
Following approval of the change the name of the Company to OKYO
Pharma Corporation at the General Meeting, the Company will file
the relevant documents and will make a further announcement to
confirm the effective date and new ISIN and SEDOL, when
allocated.
For further information contact:
West African Minerals Corporation Willy Simon +44 (0)20 7382 8300
Roland Cornish
Beaumont Cornish Limited (Nominated Adviser) Michael Cornish +44 (0)20 7628 3396
Beaufort Securities Limited (Broker) Jon Belliss +44 (0)20 7382 8300
Further information is available on the Company's website:
www.westafricanminerals.com
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014. The person who arranged for the
release of this announcement on behalf of the Company was Willy
Simon, Director.
Forward-looking statements
Certain statements in this announcement constitute
"forward-looking statements". Forward-looking statements include
statements concerning the plans, objectives, goals, strategies and
future operations and performance of the Company and the
assumptions underlying these forward-looking statements. The
Company uses the words "anticipates", "estimates", "expects",
"believes", "intends", "plans", "may", "will", "should", and any
similar expressions to identify forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the
Company's actual results, performances or achievements to be
materially different from any future results, performances or
achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous
assumptions regarding present and future business strategies and
the environment in which the Company will operate in the future.
These forward-looking statements speak only as at the date of this
announcement. The Company is not obliged, and does not intend, to
update or to revise any forward-looking statements, whether as a
result of new information, future events or otherwise except to the
extent required by any applicable law or regulation. All subsequent
written or oral forward-looking statements attributable to the
Company, or persons acting on behalf of the Company, are expressly
qualified in their entirety by the cautionary statements contained
throughout this announcement. As a result of these risks,
uncertainties and assumptions, a prospective investor should not
place undue reliance on these forward-looking statements.
APPENDIX I
DEFINITIONS
In this announcement, the following expressions have the
following meanings unless the context otherwise requires:
"AIM" the market of that name operated
by the London Stock Exchange
"AIM Rules" the AIM Rules For Companies whose
securities are admitted to trading
on AIM, as published by the London
Stock Exchange from time to time,
and references to any "AIM Rule"
shall be construed accordingly
"Board" the board of Directors
"Directors" the directors of the Company
"CREST" the relevant system (as defined
in the Uncertificated Securities
Regulations 2001) in respect of
which Euroclear UK & Ireland Limited
is the operator (as defined in those
regulations)
"Depositary" Computershare Investor Services
PLC of The Pavilions, Bridgewater
Road, Bristol BS99 6ZY
"Depositary the interests representing Ordinary
Interests" Shares issued through the Depositary
"Disposal" the proposed disposal of the Ferrum
Shares by means of the Special Dividend
"Ferrum" Ferrum Resources Limited, a wholly-owned
subsidiary of WAFM
"Ferrum Shares" the ordinary shares of no par value
in the capital of Ferrum
"General Meeting" the meeting of the Shareholders
held on 10 January 2018
"London Stock the London Stock Exchange plc
Exchange"
"Record Date" close of business on 10 January
2018
"Register" the register of members of the Company
"Resolutions" the resolutions to be proposed at
the General Meeting as set out in
the Notice of General Meeting at
the end of this Document
"Shareholders" holders of Ordinary Shares
"Special Dividend" the distribution of Ferrum Shares
to Shareholders on the Record Date
"WAFM" or "the West African Minerals Corporation,
Company" a company incorporated in the British
Virgin Islands with registered number
1415559
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROMFBLFFVFFFBBL
(END) Dow Jones Newswires
January 10, 2018 06:14 ET (11:14 GMT)
Okyo Pharma (LSE:OKYO)
Historical Stock Chart
From Apr 2024 to May 2024
Okyo Pharma (LSE:OKYO)
Historical Stock Chart
From May 2023 to May 2024