EGM Statement

    RNS Number : 2120L
  White Nile Limited
  06 January 2009
   

    White Nile Ltd / Ticker: WNL / Index: AIM / Sector: Oil & Gas
    6 January 2009
    White Nile Ltd ('White Nile' or 'the Company')
    EGM Statement

    White Nile Ltd announces that at the Extraordinary General Meeting held today, the resolutions relating to the adoption of a new
investing strategy and the proposed change of name to Agriterra Limited ('Agriterra') were duly passed. Of the proxy votes received 99.9%
were in favour of the resolutions.

    White Nile Chairman Phil Edmonds said, "We believe that the agricultural sector in Africa is an area of activity which has the potential
to be particularly resilient to the current global economic climate. It is our belief that a shift in strategy to capitalise on the growing
agricultural sector will potentially create significant returns on investment for our shareholders. In line with this new investing
strategy, the Board has already identified several acquisition targets. As described in the circular to shareholders dated 24 December 2008,
these include Mozambique-based agricultural trading and processing companies Desenvolvimento E Comercializa? Agricola Limitada and Compagri
Limitada as well as Mozbife Limitada, a cattle ranching business, which will enable us to take advantage of the increasing demand for
produce such as maize meal and beef in Africa."

    Following the passing of these resolutions, it is expected that the Company's name change will take effect on the London Stock Exchange
on 8 January 2009, at which point the Company's ticker will change to AGTA and its new website at www.agriterra-ltd.com will be launched.

    * * ENDS * *

    For further information please visit www.whitenile-ltd.com or contact:
                                
 Phil Edmonds     White Nile Ltd                 Tel: [phone]
 Jonathan Wright  Seymour Pierce Ltd             Tel: [phone]
 Hugo de Salis    St Brides Media & Finance Ltd  Tel: [phone]
 Susie Callear    St Brides Media & Finance Ltd  Tel: [phone]


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