BVI company to increase its stake in Blackham Resources

Polo Resources Limited, the natural resources investment company registered in the British Virgin Islands, has informed of its intention to exercise its right to purchase further 49 per cent of Perfectus Management Ltd for A$3.0mln, to be satisfied by the issue of 9,832,358 new ordinary shares of Polo Resources, at a price of £0.15 per share.

As at 24 May 2016, Perfectus had unaudited net assets of US$4.68 million (approximately £3.24 million or A$6.35 million). Perfectus owns 5,888,495 ordinary shares in Blackham Resources Limited issued fully paid ordinary share capital. Polo directly holds a further 14,761,905 (5.83 per cent) of Blackham ordinary shares.