ARCL Altus Res.

TIDMARCL

RNS Number : 8967Y

Altus Resource Capital Limited

04 December 2014

ALTUS RESOURCE CAPITAL LIMITED (LSE:ARCL) (the "Company")

4 December 2014

RESULTS OF GENERAL MEETING

In accordance with the provisions of E.2.2 of The UK Corporate Governance Code, the Company advises that for the General Meeting held on 4 December 2014 valid proxy appointments were made in respect of 28,267,235 voting shares and 30,000 voting shares were represented at the General Meeting. Voting was as follows:

IT WAS RESOLVEDto receive the director's report and auditors report and audited Consolidated Financial Statements of the Company for the year ended 30 June 2014.

(23,811,409 votes cast in favour, 2,842,000against and 1,643,826 withheld.)

IT WAS RESOLVEDto reappoint Deloitte LLP as Auditor to the Company, to hold office from the conclusion of this meeting until the conclusion of the next general meeting to be held in 2015 under section 199 of The Companies (Guernsey) Law, 2008, as amended (the "Law").

(26,653,409 votes cast in favour, none against and 1,643,826 withheld.)

IT WAS RESOLVEDto authorise the Directors to determine the Auditor's remuneration.

(26,653,409 votes cast in favour, none against and 1,643,826 withheld.)

IT WAS RESOLVED that the Company be authorised, in accordance with Section 315(1)(a) of the Law, to make market purchases (within the meaning of section 316 of the Law) of ordinary shares of no par value each (the "Shares"), and to cancel such Shares or hold such Shares as treasury shares, provided that:

i. The maximum number of Shares hereby authorised to be purchased shall be 14.99% of the Shares in issue;

ii. Purchases by the Company will only be made in the market at prices below the estimated prevailing NAV per Share where the Directors believe such purchases will result in an increase in the NAV per Share of the remaining Shares and as a means of addressing any imbalance between the supply of, and demand for, such Shares;

iii. The maximum which may be paid for a Share shall not be at a price higher than 5% above the average mid-market values for the Shares for the five Business Days before the purchase is made or the higher of the last independent trade or the highest independent bid for the shares

   iv.                     The minimum price to be paid for a Share shall be 1 pence; 

v. Unless previously varied, revoked or renewed, the authority hereby conferred shall expire at the conclusion of the General Meeting of the Company to be held in 2015, under section 199 of the Law, save that the Company may, prior to such expiry, enter into a contract to purchase Shares under such authority and make a purchase of Shares pursuant to such contract.

(23,833,909 votes cast in favour, none against and 4,463,326 withheld.)

The resolution put to the Company's shareholders that, in accordance with Article 154A of the Articles, the Company continue in existence as presently constituted, did not pass.

(13,441,761 votes cast in favour, 14,855,474 against and none withheld).

In accordance with the Company's Articles, the Directors shall within 4 months formulate and put to Members proposals relating to the future of the Company having regard to, inter alia, prevailing market conditions and applicable regulations and legislation.

It is the Directors' intent to make a progress announcement towards the end of January 2015.

For further information contact:

   Administrative Enquiries:                                      Shareholder Enquiries: 
   JTC (Guernsey) Limited                                       Nimrod Capital LLP 
   Tel: +44 (0) 1481 702 400                                   Tel: +44 (0) 20 7382 4565 

info@nimrodcapital.com

E&OE - In Transmission

END OF ANNOUNCEMENT

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