Altus Resource Capital Limited Results of General Meeting (0227T)

TIDMARCL

RNS Number : 0227T

Altus Resource Capital Limited

07 December 2012

ALTUS RESOURCE CAPITAL LIMITED (LSE:ARCL) (the "Company")

7 December 2012

RESULTS OF GENERAL MEETING

In accordance with the provisions of E.2.2 of The UK Corporate Governance Code, the Company advises that for the General Meeting held on 6 December 2012 valid proxy appointments were made in respect of 25,176,615 voting shares and voting was as follows:

IT WAS RESOLVED to receive the Annual Report and Consolidated Financial Statements for the period ended 30 June 2012. (23,044,529 votes cast in favour, 2,132,086 against and none withheld.)

IT WAS RESOLVED to reappoint Deloitte LLP as Auditor to the Company, to hold office from the conclusion of this meeting until the conclusion of the next general meeting to be held in 2013 under section 199 of The Companies (Guernsey) Law, 2008, as amended (the "Law") and to authorise the Directors to determine their remuneration. (25,176,615 votes cast in favour, none against and none withheld.)

IT WAS RESOLVED to re-elect as a director Mr Nicholas Falla. (25,176,615 votes cast in favour, none against and none withheld.)

IT WAS RESOLVED to re-elect as a director Mr David Gelber. (21,064,529 votes cast in favour, none against and 4,112,086 withheld.)

IT WAS RESOLVED to re-elect as a director Mr Robert Milroy. (25,176,615 votes cast in favour, none against and none withheld.)

IT WAS RESOLVED to re-elect as a director Mr David Netherway. (23,044,529 votes cast in favour, 2,132,086 against and none withheld.)

IT WAS RESOLVED that the Company be authorised, in accordance with Section 315(1)(a) of the Law, to make market purchases (within the meaning of section 316 of the Law) of ordinary shares of no par value each (the "Shares"), and to cancel such Shares or hold such Shares as treasury shares, provided that:

i. The maximum number of Shares hereby authorised to be purchased shall be 14.99% of the Shares in issue;

ii. Purchases by the Company will only be made in the market at prices below the estimated prevailing NAV per Share where the Directors believe such purchases will result in an increase in the NAV per Share of the remaining Shares and as a means of addressing any imbalance between the supply of, and demand for, such Shares;

iii. The maximum which may be paid for a Share shall not be at a price higher than 5% above the average mid-market values for the Shares for the five Business Days before the purchase is made or the higher of the last independent trade or the highest independent bid for the shares;

   iv.        The minimum price to be paid for a Share shall be 1 pence; and

v. Unless previously varied, revoked or renewed, the authority hereby conferred shall expire at the conclusion of the General Meeting of the Company to be held in 2013, under section 199 of the Law, save that the Company may, prior to such expiry, enter into a contract to purchase Shares under such authority and make a purchase of Shares pursuant to such contract.

(25,176,615 votes cast in favour, no votes against and none withheld).

For further information contact:

   Administrative Enquiries:                                Shareholder Enquiries: 
   Anson Fund Managers Limited                       Nimrod Capital LLP 
   Tel: +44 (0) 1481 722 260                             Tel: +44 (0) 20 3355 6855

info@nimrodcapital.com

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