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DJ Pelican House Mining plc: OUTCOME OF ANNUAL GENERAL MEETING ('AGM') AND OTHER MATTERS

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 Pelican House Mining plc (PHM) 
Pelican House Mining plc: OUTCOME OF ANNUAL GENERAL MEETING ('AGM') AND 
OTHER MATTERS 
 
13-Jun-2018 / 14:40 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
*PELICAN HOUSE MINING PLC* 
*(formerly Hellenic Capital plc; "Pelican House Mining" or the "Company"; 
PHM on NEX Exchange Growth Market)* 
*OUTCOME OF ANNUAL GENERAL MEETING ("AGM") AND OTHER MATTERS* 
 
The Company's AGM in respect of the year ended 31st December 2017 occurred 
today at 12.00 noon BST, in accordance with the notice posted on 21st May 
2018 to shareholders. 
 
Outcome of AGM 
 
I am pleased to report that the six ordinary resolutions and three special 
resolutions laid before members of the Company for consideration were all 
passed without opposition. 
 
Change of Name 
 
The last of the resolutions, which was approved by shareholders as a special 
resolution, changed the name of the Company to Pelican House Mining. Extant 
certificates for the ordinary shares of 0.1 pence Sterling in the capital of 
Hellenic Capital plc ("Shares") shall continue to be valid until such time 
as they may be tendered to the Company's registrar on sale or transfer of 
Shares; any new or balancing certificates issued in future shall be for 
Pelican House Mining Shares. From tomorrow (14th June 2018), the 97,989,500 
Shares of Pelican House shall trade on NEX Exchange Growth Market under the 
symbol PHM. The Directors believe the new name better reflects the Company's 
immediate, primary focus on identifying small, early-stage mining, minerals 
and other natural resource-related projects in continental Africa and 
elsewhere, in which it can invest modest amounts of capital with the 
objective in the short-term of raising the status of the investees' 
resources and hence the basis of such resources' valuations. 
 
Trading Update 
 
The cash position in the first half to date of the current financial year is 
in accordance with the Directors' expectations. In the Chairman's Statement 
which accompanied the financial results for 2017 the Company disclosed that, 
subsequent to the year-end, it had agreed subject to contract to sell its 
commercial property in Leeds, West Yorkshire. The intending purchaser was 
unable to proceed so the property remains in the Company's balance sheet 
although the deposit received in respect of the proposed sale, also referred 
to in the Chairman's Statement, has been retained by Pelican House Mining. 
 
The goal of the Company is to generate positive capital returns from 
successive investments in the sector described above. Accordingly, the 
Directors shall continue not to draw emoluments from the Company and, in 
recognition of this and of certain interest-free Directors' loans to the 
Company, the Company has agreed to grant Messrs. Grant-Rennick and Jackson, 
Directors of the Company, options exercisable at the market price at close 
of business on 12th June 2018 of 0.55 pence per Share over an aggregate of 
seven million (7,000,000) new Shares. These options shall be issued in 
conjunction with a broader employee and management incentive scheme to be 
introduced by the Company. 
 
Board Change 
 
Graham Jones, a non-executive Director, did not offer himself for election 
at the AGM and he has today ceased to hold office. The Company wishes to 
thank him for his services over the past eighteen months. The Directors are 
optimistic that they will shortly be able to announce the appointment of a 
non-executive Director whose experience should significantly assist with 
executing Pelican House Mining's future investment strategy. 
 
Apportionment of Management Responsibilities 
 
With immediate effect, Mark Jackson assumes the responsibility for financial 
matters in the Company. Mr. Jackson is a Fellow of the Institute of 
Chartered Accountants in England and Wales and principal of a busy 
accountancy practice serving the mercantile community in the port city of 
Kingston upon Hull, East Yorkshire. 
 
Also effective immediately, I become Chief Executive Officer and interim 
Chairman of Pelican House Mining, with the intention of relinquishing the 
latter position when a suitably-qualified, independent Chairman is 
appointed. I am a mining engineer and graduate of the Camborne School of 
Mines; I have extensive experience of natural resource projects in Africa 
and elsewhere and, for a number of years, owned and ran a successful metals 
trading company based in Bermuda. 
 
Conclusion 
 
The Directors wish to thank shareholders and the Company's various advisers 
and service providers for their continuing support. I look forward to 
communicating again shortly to inform shareholders and the market of 
progress in implementing Pelican House Mining's strategy for achieving 
shareholder value. 
 
*Simon Grant-Rennick*, 
Chief Executive Officer, 
London, 13th June 2018. 
 
Enquiries: 
 
Pelican House Mining plc: 
Simon Grant-Rennick: +44 (0) 797 325 3124; sgrelk@aol.com 
 
Keith, Bayley, Rogers & Co. Limited: 
Graham Atthill-Beck: +44 (0)20 7464 4091; +971 (0) 50 856 9408; +44 (0) 750 
643 4107; Graham.Atthill-Beck@kbrl.co.uk 
 
ISIN:          GB00B2PKKY27 
Category Code: AGM 
TIDM:          PHM 
Sequence No.:  5646 
EQS News ID:   695061 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

June 13, 2018 09:41 ET (13:41 GMT)