Polo Resources will send a Circular to adopt a new investing policy in accordance with AIM Rule 8 and a Revised Share Options Plan.
The Company became an investing company under AIM Rules in July 2010 to invest in the resource and energy sectors. Whilst the Board is seeing improvements in market sentiment across the natural resources sector, this sector has not generally performed well in recent times and the outlook remains uncertain. Therefore, whilst the Company will retain exposure to this sector, the Board has concluded that it is in the Shareholders’ interests for the Company to continue as an investing company by amending the Company’s investing policy to include other sectors that the Board considers are likely to generate attractive returns for Shareholders.
The Board believes that growth in Asia Pacific will remain strong and that the Company’s strategy will focus on direct and indirect investments in this geographical area. This change in investment policy is supported by analysis undertaken by Multilateral Organisations including the Asian Development Bank who opined that economic activity in Asia will continue to grow, with the region expecting to contribute about 60 per cent of global growth in the next couple of years.
The Board believes that its broad collective experience in investing together with their extensive network of contacts will assist them in the identification, evaluation, structuring and funding of appropriate investment opportunities. When necessary, external consultants and professionals will be engaged to assist in the evaluation of prospective targets, their management teams and the respective market place.
Polo Resources looks to change investment policy