ZNI Zambezi Nickel

RNS Number:8562C
Zambezi Nickel Ltd
28 August 2007


                             Zambezi Nickel Limited
                            ("ZNI" or the "Company")

                    Notice of Annual General Meeting ("AGM")

ZNI confirms today that a notice of Annual General Meeting (the "AGM") has been
dispatched to its shareholders to convene an AGM to be held at the offices of
Appleby Xceldiam, Cannons Court, 22 Victoria Street, Hamilton, HM 12 at 9:30
a.m. (Western Standard Time) on 7 September 2007.

AGM Notice

The AGM Notice includes four resolutions ("the Resolutions") as set out below:
          
     (i)  to approve the financial statements of the Company for the financial
          period ended 31 March 2007;
          
     (ii) that James Kerr be re-elected as a director of the Company;
          
     (iii)that David Lunt be re-elected as a director of the Company;
          
     (iv) that the Company adopt a Staff Option Plan in accordance with the 
          by-laws of the Company;
          
     (v)  that the Company approves the issue of 350,000 options over ordinary
          shares of 1p each, exercisable on or before 30 April 2011 at a price 
          of 10p per share to Mr Julian Ford in lieu of directors' salary for 
          the period 1 November 2006 to 30 April 2007 ;
          
     (vi) that the Company approves the issue of 350,000 options over ordinary
          shares of 1p each, exercisable on or before 30 April 2011 at a price 
          of 10p per share to Mr Geoffrey Johnson in lieu of directors' salary 
          for the period 1 November 2006 to 30 April 2007;
          
     (vii)that the Company approves the issue of 350,000 options over ordinary
          shares of 1p each, exercisable on or before 30 April 2011 at a price 
          of 10p per share to Mr Jerremy Wrathall in lieu of directors' salary 
          for the period 1 November 2006 to 30 April 2007;
          
     (viii) that the Company approves the issue of 350,000 options over ordinary
          shares of 1p each, exercisable on or before 23 May 2011 at a price of 
          10p per share to Mr David Lunt in lieu of directors' salary for the 
          period 23 May 2007 to 23 November 2007;
          
     (ix) that the Company approves the issue to its Managing Director, Mr James
          Gavin Kerr, of 3,500,000 options over ordinary shares of 1p, 
          exercisable after one year, as follows:
          
     (i)  2,000,000 options at 5p to be exercised by 14 January 2009.
          
     (ii) 750.000 options at 10p to be exercised by 14 January 2010.
          
     (iii)750,000 options at 15p to be exercised by 14 January 2012.
          
     (x)  that the Company approves  the issue to its Chief Financial Officer, 
          Mr Michael Paul Introna, of

          1,500,000 options over ordinary shares of 1p, exercisable after one 
          year, as follows:
               
          (i)  500,000 options at 13p to be exercised by 6 August 2009.
               
          (ii) 500.000 options at 15p to be exercised by 6 August 2010.

          (iii)500,000 options at 20p to be exercised by 6 August 2011.
          
     (xi) that the name of Company be changed to Lithic Metals and Energy
          Limited; and
          
     (xii)that Deloitte, Touche Tohmatsu be appointed as auditors of the 
          Company.


For further information please contact

WH Ireland Limited                                      Tel: 0161 832 2174
David Youngman/Katy Mitchell

Zambezi Nickel Limited                                  Tel: +61 8 9211 9000
Jim Kerr




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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