Blenheim Natural Resources PLC Notice of General Meeting (3719C)

TIDMBNR

RNS Number : 3719C

Blenheim Natural Resources PLC

12 April 2017

12 April 2017

BLENHEIM NATURAL RESOURCES PLC

("Blenheim" or the "Company")

Notice of General Meeting

Blenheim announces that it has today sent a notice to shareholders convening a general meeting, which is to be held at 12 noon on Friday, 28 April 2017 at 4(th) Floor, 40 Queen Street, London EC4R 1DD (the "General Meeting").

The purpose of the General Meeting is for the directors to seek authority from shareholders to allot and issue up to 75,000,000 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") to Harry Sutherland (the "Seller") as partial consideration for the conditional acquisition of a 30 per cent interest in Nashwan Holdings Ltd ("Nashwan"), as announced by the Company on 30 March 2017. The remaining consideration for the investment in Nashwan is GBP200,000 in cash (the "Cash Consideration").

Subject to receiving the authority to do so from shareholders, the issue and allotment of the 75,000,000 Ordinary Shares, and the payment of the Cash Consideration, is conditional upon Nashwan successfully being granted exploration licences over both its Menianbala and Djidje projects within 90 days of the date of the share purchase agreement between the Seller and Blenheim, or by such other date agreed between the parties.

The Company is also seeking the requisite authorities to issue Ordinary Shares, or to issue securities with rights over Ordinary Shares, on a non-pre-emptive basis up to an aggregate nominal amount equal to the nominal amount of the current issued share capital, in order to raise funds to enable the Company to make further investments in accordance with its investing policy. The authority to issue and allot Ordinary Shares up to an aggregate nominal amount of GBP398,577 will also give the Company the flexibility to consider issuing Ordinary Shares as consideration for future investments.

The notice convening the general meeting will shortly be made available on the Company's website: www.blenheimnaturalresources.com

Ends

For further information please contact:

 
Chris Ells                                  Blenheim Natural Resources Plc         [phone] 
 
Colin Aaronson/Jamie Barklem/ Daniel Bush   Grant Thornton UK LLP                  [phone] 
 
Nick Emerson                                SI Capital Ltd                         [phone] 
Lucy Williams / Duncan Vasey                Peterhouse Corporate Finance Limited   [phone] 
Colin Rowbury                               Cornhill Capital Limited               [phone] 
 

The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 12, 2017 11:20 ET (15:20 GMT)