EGM Statement
06 Januar 2009 - 5:23PM
UK Regulatory
RNS Number : 2120L
White Nile Limited
06 January 2009
White Nile Ltd / Ticker: WNL / Index: AIM / Sector: Oil & Gas
6 January 2009
White Nile Ltd ('White Nile' or 'the Company')
EGM Statement
White Nile Ltd announces that at the Extraordinary General Meeting held today, the resolutions relating to the adoption of a new
investing strategy and the proposed change of name to Agriterra Limited ('Agriterra') were duly passed. Of the proxy votes received 99.9%
were in favour of the resolutions.
White Nile Chairman Phil Edmonds said, "We believe that the agricultural sector in Africa is an area of activity which has the potential
to be particularly resilient to the current global economic climate. It is our belief that a shift in strategy to capitalise on the growing
agricultural sector will potentially create significant returns on investment for our shareholders. In line with this new investing
strategy, the Board has already identified several acquisition targets. As described in the circular to shareholders dated 24 December 2008,
these include Mozambique-based agricultural trading and processing companies Desenvolvimento E Comercializa? Agricola Limitada and Compagri
Limitada as well as Mozbife Limitada, a cattle ranching business, which will enable us to take advantage of the increasing demand for
produce such as maize meal and beef in Africa."
Following the passing of these resolutions, it is expected that the Company's name change will take effect on the London Stock Exchange
on 8 January 2009, at which point the Company's ticker will change to AGTA and its new website at www.agriterra-ltd.com will be launched.
* * ENDS * *
For further information please visit www.whitenile-ltd.com or contact:
Phil Edmonds White Nile Ltd Tel: 0845 108 6060
Jonathan Wright Seymour Pierce Ltd Tel: 020 7107 8000
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7236 1177
Susie Callear St Brides Media & Finance Ltd Tel: 020 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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