African Potash Limited ('African Potash' or 'the Company')
Result of Annual General Meeting
African Potash, the AIM listed exploration company focused on the vertical integration of fertiliser operations in Africa and Sub-Saharan potash assets, is pleased to announce that all resolutions were duly passed at the Company's Annual General Meeting held earlier today, with the exception of Resolution 10. This had been proposed as a special resolution to change the name of the Company from African Potash Limited to "AFPO Limited", but was withdrawn by the Chairman at the start of the meeting.
African Potash Executive Chairman Chris Cleverly said: "Following further consideration the Board believes that the Company's name still suitably reflects its operations at this stage of its evolution. In addition "African Potash" is increasingly recognised as a brand in Africa, which has added value to the listed entity that the Board believes would be discounted by a name change. Furthermore, the Board believes that the market is increasingly seeing a bottoming out of mining valuations and hence the Company's resource assets and opportunities may receive greater strategic emphasis in the future. It is therefore not deemed necessary to change the Company's name at this time. The Company will consequently continue to operate as African Potash Limited."
African Potash is an AIM quoted company focussed on building a vertically integrated platform for the mining, production and distribution of fertiliser, primarily within Africa.
The Company has a trading agreement with the Common Market for Eastern and Southern Africa ('COMESA'), a free trade union for twenty African member states, to supply and deliver at least 500,000 metric tonnes of fertilisers on an annual basis to off-takers identified and introduced by COMESA.
The Company also operates the Lac Dinga Project in the Republic of Congo, which is prospective for potash, a key source of potassium fertiliser.
This information is provided by RNS
The company news service from the London Stock Exchange