Result of Extraordinary General Meeting
27 March 2010 - 3:07AM
UK Regulatory
TIDMPDF
RNS Number : 2877J
Pangea DiamondFields PLC
26 March 2010
AIM: PDF
Pangea DiamondFields plc
('Pangea' or the 'Company')
Result of Extraordinary General Meeting
Further to its announcement of 22 February 2010, Pangea announces that at the
extraordinary general meeting of the Company held at its registered office
earlier today, shareholder approval was obtained for the disposal of Efidium
Limited, the holding company for all operating activities of Pangea, to
International Gold Exploration AB ('IGE') (the 'Disposal').
Separately, IGE shareholders voted in a general meeting earlier today and
unanimously approved the issue and allotment of 495,399,057 new IGE shares to
Pangea as consideration for the Disposal (the 'Consideration Shares').
All conditions precedent under the Disposal agreement have now been satisfied.
The Disposal is expected to formally complete by the end of March 2010.
Following completion Pangea will convene a further extraordinary general meeting
of the Company to seek shareholder approval for the commencement of a members'
voluntary liquidation process to distribute the Consideration Shares to
shareholders as previously advised along with the cancellation of the Company's
admission to trading on the AIM market of the London Stock Exchange.
Further information:
+----------------------+------------------------+-----------------------+
| Pangea DiamondFields | Ambrian Partners | Walbrook PR Ltd |
| plc | Limited | |
| | | |
+----------------------+------------------------+-----------------------+
| Boris Kamstra | Richard Brown / | Louise Goodeve / Leah |
| | Richard Greenfield | Kramer |
+----------------------+------------------------+-----------------------+
| T: +27 11 438 4100 | T: +44 (0) 20 7634 | T: +44 (0) 20 7933 |
| | 4700 | 8780 |
| | | |
+----------------------+------------------------+-----------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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