Polo Resources Limited Celamin Holdings NL - Investment Updates (2345I)
22 November 2018 - 11:06PM
UK Regulatory
TIDMPOL
RNS Number : 2345I
Polo Resources Limited
22 November 2018
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014 and has
been announced in accordance with the Company's obligations under
Article 17 of that Regulation.
22 November 2018
Polo Resources Limited
("Polo" or the "Company")
CELAMIN HOLDINGS NL - INVESTMENT UPDATES
Polo Resources Limited (AIM: POL), the multi-sector investment
company with interests in oil, gold, coal, copper, phosphate,
lithium, iron and vanadium, notes that a "Form 604 - Notice of
change of substantial holder" covering Polo's holding in its
investee company Celamin Holdings Limited ("Celamin") (ASX: CNL),
has been released. Polo's interest in CNL following its recent
Share Purchase Plan ("SPP") and subsequent Top Up Placement ("TUP")
stands at 26,214,915 shares representing 20.53% of CNL's Fully Paid
Ordinary Shares. Under the SPP Polo secured its maximum allocation
of 600,000 shares and secured another 3,155,120 shares in the TUP.
The SPP was only available for existing shareholders and also
restricted shareholders to a maximum investment of AUD15,000. The
SPP was well supported and as a result of many smaller shareholders
increasing their CNL stake some dilution of the larger CNL
shareholders was inevitable.
In its announcement of 20 November 2018, CNL published its
"Application for Quotation" letter sent to ASX in which it advised
the company had completed the allotment and issue of 63,772,811
Options expiring 18 May 2020 exercisable at AUD0.05 as a result of
the 1 for 2 Bonus Options Offer which was announced to the market
on 8 October 2018. Under the terms of the Bonus Options Offer, Polo
is eligible to receive 12,394,628 CNL Share Options representing
19.44% of the total Options issued.
CNL also announced on 21 November 2018 that Mr Robin Widdup,
currently Managing Director of Lion Manager Pty Ltd, has been
appointed as Alternate Director for CNL's Non-Executive Director Mr
Tim Maxwell who is also Manager - African Lion Selection Group Pty
Ltd.
The full details of these announcements can be found at
http://www.celaminnl.com.au/ and the ASX website
https://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=CNL&timeframe=D&period=W
For further information, please contact:
Polo Resources Limited
- Kudzayi Denenga, Investor Relations +27 (0) 787 312 919
Allenby Capital Limited (Nominated
adviser & broker)
- John Depasquale +44 (0)20 3328 5657
Blytheweigh (Public relations)
- Julia Tilley, Fergus Cowan +44 (0) 207 138 3204
About the Company
Polo Resources Limited is a multi-sector investment company
focused on investing in undervalued companies and projects with
strong fundamentals and attractive growth prospects. For complete
details on Polo, please refer to: www.poloresources.com.
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contact rns@lseg.com or visit www.rns.com.
END
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