RE: EML Atomaer''''s Braemore only for infohttps://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1647204&source=RNS
Final Results for the year ended 30 June 2007
Notice of AGM
Atomaer:
· August 2007: nickel leach testwork continues with encouraging results by Outotec in Finland and Atomaer Technologies in South Africa
Braemore acquired all of the issued capital of Western Consolidated Nickel (Pty) Ltd from Atomaer Holdings Pty Ltd in July 2005.
In addition, pilot plant testwork completed by Atomaer using their proprietory leach technology on atmospheric leach of nickel sulphide tailings achieved nickel yields and dissolution rates greater than 90% in six hours.
The acquisition of Independence Platinum arose from Braemore exercising its rights to acquire Nickel Rights from Atomaer Holdings Pty Ltd under the Share Sale Agreement for the purchase of Western Consolidated Nickel Pty Ltd in May 2005.
Mr Humann is also Chairman of Atomaer Holdings Pty Ltd.
* D Humann is a director and and C Dodd an alternate director of Atomaer Holdings Pty Ltd which holds 300,000,000 Ordinary shares and 305,000,000 Performance shares in the Company.
SUBSTANTIAL SHAREHOLDINGS
On the 12 November 2007 the following shareholdings were registered as being interested in 3% or more of the company’s issued share capital, other than Directors holdings as previously disclosed:
Number of Ordinary Shares
Atomaer Holdings Pty Ltd
300,000,000
44.68%
HSBC Global Custody Nom (UK) Ltd
71,902,500
10.71%
Securities Services Nominees Limited
21,716,667
3.23%
In addition Atomaer Holdings Pty Ltd owns 305,000,000 Performance Shares which will convert into 305,000,000 Ordinary shares on the achievement of the performance milestones specified in the agreement dated 9 May 2005 between the Company and Atomaer Holdings Pty Ltd in respect to the acquisition of Western Consolidated Nickel Pty Ltd.
The 305 million Performance shares will convert into 305 million Ordinary shares on the achievement of the performance milestones specified in the agreement dated 9 May 2005 between the Company and Atomaer Holdings Pty Ltd in respect to the acquisition of Western Consolidated Nickel Pty Ltd.
20. RELATED PARTY TRANSACTIONS
Transactions between related parties
Transactions between related parties are on normal commercial terms and conditions on no more favourable than those available to other parties unless otherwise stated.
2007
£’000
2006
£’000
Atomaer Australia Pty Ltd
638
324
Atomaer (RSA) Pty Ltd
90
65
CSA Australia Pty Ltd
16
100
Amounts payable to related parties at 30 June 2007
2007
£’000
Atomaer Australia Pty Ltd
163
Atomaer (RSA) Pty Ltd
5
22. ULTIMATE CONTROLLING PARTY
During the year ended 30 June 2007 the holding of Atomaer Holdings Pty Limited fell to 44.68% (2006: 55.23%) as a result of the Company issuing 128,333,333 new shares to third parties.