OREANDA-NEWS. July 12, 2012. Further to the announcement made by the Company on 27 April 2012, in relation to the proposed debt conversions and notice of EGM, the Company is pleased to announce that all resolutions were passed at the EGM of the Company held on 2 July 2012. 105,423,464 new ordinary shares of USD0.01 each in the Company, (the "New Ordinary Shares"), are to be issued by the Company in certificated form.

Application is being made to the London Stock Exchange for the 105,423,464 New Ordinary Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM.  Admission of the New Ordinary Shares is expected to take place at 8.00 a.m. on or around 9 July 2012.

Following the admission of the New Ordinary Shares, the total number of ordinary shares admitted to trading on AIM will be 552,004,665. The total number of voting rights in the Company is 552,004,665.