Polo Resources Limited ("Polo Resources", "Polo" or "the Company") -
Directors' Share Dealings and Exercise of Options
TORONTO, July 27 /CNW/ - Polo Resources Limited (AIM andTSX: POL) announces that yesterday it allotted 61,833,333 ordinary shares of no par value in the Company ("Ordinary Shares") to certain optionholders for an aggregate consideration of (pnds stlg)2,164,166.64 following the exercise of certain options granted pursuant to the Company's share option plan. The price paid per Ordinary Share was 3.5 pence.
Application will be made for the new Ordinary Shares, which rank pari passu in all respects with the Company's existing ordinary shares, to be admitted to trading on AIM which is expected to occur on or about 2 August 2010.
On admission the Company's issued share capital will be 2,378,678,956 ordinary shares of no par value. The total number of voting rights in the Company will be 2,378,678,956. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
The exercise of options referred to above includes the exercise of the following options by directors of the Company.
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Name of No. of shares Exercise price Total interest % of share
Director being allotted per share following capital
pursuant to exercise of following
exercise of option exercise and
option on admission
of Ordinary
Shares
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Stephen (pnds stlg)
Dattels 5,000,000 0.035 186,676,007 7.85
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Neil (pnds stlg)
Herbert 12,000,000 0.035 65,132,954 2.74
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About the Company
Polo Resources is a natural resources investment company focused investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. The Company will primarily invest in companies with producing assets and/or resources and reserves that have been verified under internationally recognised reporting standards. For complete details on Polo Resources: www.poloresources.com.
CAUTIONARY STATEMENT
The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.
Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
For further information: Polo Resources Limited, Neil Herbert, Executive Co-Chairman, + 27 82 404 36 37; Canaccord Genuity Limited, Ryan Gaffney/Bhavesh Patel, + 44 (0) 20 7050 6500; Toronto, James McVicar, Heenan Blaikie LLP, +1 416 643 6903; Financial Dynamics, Ben Brewerton/Ed Westropp, + 44 (0) 20 7831 3113
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