Result of AGM and Name Change
July 25 2007 - 12:06PM
UK Regulatory
RNS Number:8677A
Europasia Education PLC
25 July 2007
25 July 2007
EUROPASIA EDUCATION PLC
RESULT OF ANNUAL GENERAL MEETING
AND CHANGE OF COMPANY NAME
Aim-listed EuropaAsia Education plc ("the Company") announces that at today's
Annual General Meeting ("AGM") all resolutions were duly passed. As a result
the company will now change its name to Commodity Growth plc, in line with the
change in investment strategy approved by shareholders at the AGM.
The Company will concentrate on investing in businesses that are involved in
rare commodities, commodities trading and specialist materials, particularly
those used in the energy and environment sectors.
It will initially look to invest in companies involved in molybdenum, which is
used as an alloying agent in a number of industries including aerospace, oil and
gas exploration, nuclear reactors and refineries.
As approved at the AGM, the Company will look to dispose of its existing
education assets to realise value for investing under the new strategy.
Recently appointed Chief Executive, Benson Day, said: "I am delighted by the
strong support shown by shareholders for the change in investment strategy. We
have already begun to work on a number of exciting opportunities in the
molybdenum sector in China. We have chosen molybdenum as our first commodity
to focus on, as our research shows there will be a significant increase in
demand for it due to a combination of economic growth in China, the limited
number of current suppliers and producers, as well as increased demand for
stainless steel, chemicals, catalysts and super-alloys worldwide.
"The Company intends to take advantage of the commodities super-cycle, driven by
the strong growth identified by its research. We will use our cash and listed
paper to acquire molybdenum physical stocks, companies and businesses initially
focusing on China where we have already identified potential investments".
For further information see www.commoditygrowth.com, or contact:
James Holmes, Paul Quade Nandita Sahgal
Chairman City Road Communications Insinger de Beaufort
EuropAsia Education plc 020 7248 8010 Tel: 020 7190 7000
020 7231 0282
This information is provided by RNS
The company news service from the London Stock Exchange
END
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