Results of Court Meeting and General Meeting (2151V)

TIDMGGG

RNS Number : 2151V

GGG Resources PLC

09 January 2012

GGG Resources plc

(the "Company" or "GGG")

Results of Court Meeting and General Meeting

January 9, 2012

The Board of GGG is pleased to announce that at the Court Meeting held earlier today, GGG Shareholders voted by the requisite majority to approve the Scheme. In addition, at the General Meeting at which a resolution was proposed to approve certain matters for the purposes of giving effect to the Scheme, including the cancellation of the admission of the GGG Shares from trading on AIM, the resolution was duly passed.

Court Meeting

At the Court Meeting, valid proxy votes were received from 121 Scheme Shareholders, holding Scheme Shares representing 30.7 per cent. of the total number of votes capable of being cast and per cent of the actual votes cast. A poll was conducted on the proposed resolution and the results are detailed below:

 
            Number of              Percentage      Number of        Percentage      Percentage 
             Scheme Shareholders    of Scheme       Scheme Shares    of Scheme       of issued 
             who voted              Shareholders    voted            Shares voted    share capital 
                                    who voted 
---------  ---------------------  --------------  ---------------  --------------  --------------- 
 For        115                    99.75%          50,878,021       99.75%          30.6% 
---------  ---------------------  --------------  ---------------  --------------  --------------- 
 Against    3                      0.25%           133,050          0.25%           0.08% 
---------  ---------------------  --------------  ---------------  --------------  --------------- 
 

Accordingly the resolution was passed.

General Meeting

At the General Meetingthe proposed resolution was proposed and the results are detailed below:

 
                  Number of GGG Shares   Percentage of GGG 
                   voted                  Shares voted 
---------------  ---------------------  ------------------ 
 For              50,876,137             99.75% 
---------------  ---------------------  ------------------ 
 Against          128,550                0.25% 
---------------  ---------------------  ------------------ 
 Vote withheld    0                      0% 
---------------  ---------------------  ------------------ 
 

Accordingly the resolution was passed.

Next Steps

Completion of the Scheme remains conditional upon:-

(i) the sanction (with or without modification (but subject to such modification being acceptable to GGG)) of the Scheme and the confirmation of the Capital Reduction by the Court;

(ii) an office copy of the Order and of the Statement of Capital being delivered for registration to the Registrar of Companies; and

(iii) BBG obtaining conditional approval for the admission to trading of BBG shares on ASX and AIM.

Cancellation

It is expected that, if the Scheme becomes Effective, the admission to dealings of GGG Shares on AIM will be cancelled with effect from 07:00 a.m. on 2 March 2012.

Expected Timetable of Principal Events

The following indicative timetable sets out expected dates for the implementation of the Scheme. The times are all stated as GMT.

 
 Date and/or Time           Event 
 10:00 a.m. on 12 January   Directions hearing for Capital Reduction 
  2012 
 22 February 2012           Last day of dealing in CDIs on ASX. 
 4:30 p.m. on 28 February   Disablement of GGG Shares in CREST 
  2012 
 6:00 p.m. on 28 February   Scheme Record Time 
  2012 
 7:30 a.m. on 29 February   Suspension of listing and dealings in 
  2012                       GGG Shares on AIM 
 29 February 2012           Court Hearing (to sanction the Scheme 
                             and to confirm the Capital Reduction) 
 29 February 2012           Effective Date of the Scheme 
 2 March 2012               Issue and allotment of New BBG Shares 
 7:00am on 2 March 2012     Cancellation of admission of GGG Shares 
                             to trading on AIM 
 7:00am on 2 March 2012     Commencement of dealings in the New BBG 
                             Shares on AIM and settlement through 
                             CREST in respect of new BBG DIs 
 5:00p.m. (WST) 2 March     Termination of quotation of the CDIs 
  2012                       on ASX 
 5:00p.m. (WST) 2 March     De-listing of GGG from the Official List 
  2012                       of the ASX 
 7 March 2012               Date for dispatch of holding statements 
                             in respect of New BBG Shares 
 10 March 2012              Commencement of quotation of New BBG 
                             Shares on ASX 
 

Other

Terms and expressions in this announcement shall, unless the context otherwise requires, have the same meanings as given to them in Scheme Circular sent to shareholders in relation to the Scheme dated 13 December 2011.

 
 Dr. Jeffrey Malaihollo           Westhouse Securities Limited (UK Nominated 
  MD, GGG Resources plc (UK)       Adviser) 
  Tel: + 44 1992 531820            Tom Price / Martin Davison 
  Email: www.gggresources.com      Tel: + 44 20 7601 6100 
-------------------------------  ------------------------------------------- 
 Neil Boom                        Collins Stewart Europe Limited (Broker) 
  MD, Gresham PR Ltd (UK).         John Prior / Adam Miller 
  Tel: + 44 7866 805 108           Tel: + 44 20 7523 8350 
-------------------------------  ------------------------------------------- 
 David McArthur                   David Brook 
  GGG Resources plc (Australia)    Professional Public Relations (Australia 
  41 Stirling Highway              media) 
  Nedlands, WA 6009                T: [phone]/ [phone] 
  Australia                        E: [e-mail] 
  Tel: [phone] 
-------------------------------  ------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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