Richland Resources Ltd Result of AGM and Update re: Option Agreement (5366J)

TIDMRLD

RNS Number : 5366J

Richland Resources Ltd

19 August 2019

19 August 2019

Richland Resources Ltd

("Richland" or the "Company")

Result of Annual General Meeting and Update re:

Option Agreement to sell the Capricorn Sapphire Project

Richland (AIM: RLD), the Australian sapphire producer and gemstones developer, announces that the resolutions proposed at its Annual General Meeting ("AGM") held earlier today, as set out in the notice dated 26 July 2019, were all duly approved by shareholders.

On 27 June 2019, the Company announced the proposed disposal of its wholly owned Capricorn Sapphire Project to Fura Gems Inc. ("Fura"), which is listed on the TSX Venture Exchange (the "Fura Transaction") and subsequently announced certain updates in relation to the proposed disposal on 18 July 2019 and 22 July 2019.

Fura Transaction: Conditions Precedent

The matters considered at the AGM included a resolution seeking shareholders' approval for the Fura Transaction in accordance with the requirements of AIM Rule 15, as the proposed disposal constitutes a fundamental change of business for the Company. Accordingly, the Company has now obtained the requisite shareholders' approval such that the remaining transaction specific condition precedent to completion is the obtaining of the applicable TSX-V approval.

A further announcement(s) will be made, as appropriate, in due course.

For further information, please contact:

 
 Anthony Brooke             Edward Nealon                   Mike Allardice 
  Chief Executive Officer    Chairman                        Group Company Secretary 
  [phone]            [phone]                 [phone] 
 Nominated Adviser          Broker 
  Strand Hanson Limited      Peterhouse Capital Limited 
  James Harris               Duncan Vasey / Lucy Williams 
  Matthew Chandler           (Broking) 
  James Dance                Eran Zucker (Corporate 
  [phone]      Finance) 
                             [phone] 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

Note to Editors:

Further information is available on the Company's website: www.richlandresourcesltd.com. Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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August 19, 2019 10:47 ET (14:47 GMT)