Result of General Meeting

    RNS Number : 0682V
  Libra Natural Resources PLC
  22 May 2008
   



 Press Release   22 May 2008

    Libra Natural Resources plc (to be renamed FibreGen plc)
    ("the Company")

    Result of General Meeting

    Libra Natural Resources plc, the international biomass-to-energy company, announces that all resolutions put to shareholders at the
General Meeting held today were duly passed. The full text of the resolutions is set out in the Company's circular to shareholders dated 30
April 2008 (the "Circular"). These included the change of the Company's name from Libra Natural Resources plc to FibreGen plc, the approval
of the appointments of Richard Squires and John Stirling as Directors of the Company and a share consolidation on a 15:1 basis (the "Share
Consolidation").

    Under the Share Consolidation, each holder of ordinary shares of 0.2 pence each in the Company ("Existing Ordinary Shares") held at 5.00
p.m. (London time) on 22 May 2008, will have their Existing Ordinary Shares replaced with new ordinary shares of 3 pence each ("New Ordinary
Shares"). Holders of Existing Ordinary Shares will receive 1 New Ordinary Share for every 15 Existing Ordinary Shares held.

    Application has been made to admit the 15,651,477 New Ordinary Shares arising from the Share Consolidation to trading on AIM, which is
expected to occur on 23 May 2008 ("Admission"). Following the Share Consolidation and Admission, the admission to AIM and trading in the
234,772,157 Existing Ordinary Shares will be cancelled. The ISIN number of the New Ordinary Shares will be GB00B2R9BM23. Further details of
the reasons for and mechanics of the Share Consolidation can be found in the Circular.

    The change of name to FibreGen plc is expected to become effective later today following the registration of the change with Companies
House.  It is expected that from 23 May 2008 the Company's New Ordinary Shares will trade under the new EPIC of "FBG" and the Company's 8
per cent. Guaranteed Convertible Bonds due 2010 will trade under the new EPIC of "FBGB".  The Company will announce separately a change to
its website to reflect its new name.

    Commenting on today's announcements, CEO Glenn Smith said, "We are extremely pleased to have completed the transformation of the Company
to a focused biomass-to-energy company. Given recent significant increases in fossil fuel prices globally, we are excited by the prospects
for our business activities across the residential, commercial and utility markets."

    - Ends -

    For further information: 

 Libra Natural Resources plc
 Glenn Smith                      Tel: [phone]
 Mark Campanale               Tel: [phone]

 Landsbanki Securities (UK) Ltd  
 Nominated Advisor
 Gareth Price/Simon Brown, Corporate Finance         Tel: [phone]
 Liberum Capital - Broker
 Ellen Francis / Simon Atkinson, Corporate Finance  Tel: [phone] 

    Media enquiries:
 Abchurch                           Tel: [phone]
 Joanne Shears / Justin Heath       Tel: [phone]
 [e-mail]    www.abchurch-group.com  


    NOTES TO EDITORS

    Libra Natural Resources plc (to be renamed FibreGen plc)

    Libra Natural Resources plc is a focused biomass-to-energy business, producing wood pellets and wood chips for sale to retail consumers
(for home heating and animal bedding) as well as to,commercial and industrial customers for heat and power generation. The Company announced
its strategic intention in December 2007 to increase significantly the size, scale, and range of its investments in its wood pellet business
and to become a leading international biomass to energy business. 

    The Company operates four biomass businesses in North America:
    *     at Princeton, British Columbia, Canada which produces wood pellets;
    *     at Westbank, British Columbia, Canada, which produces wood pellets and wood shavings;
    *     in Louisa County, Virginia, US which produces wood chips and which is planned to have a wood pellet production; and
    *     at Omak (WA), Hauser (ID), and (under construction) Shelton (WA) producing wood pellets and other products.

    The Company also has an MOU for a joint venture vehicle with Chinese and Canadian partners, to develop a plant by the end of 2008 with
initial capacity of 100,000 tons of biomass fuels for sale to the Chinese power station market.  The Company also owns the project site and
development rights for a wood pellet production facility in West Kootenay, British Columbia, Canada.


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