27  May  2015  


Paragon Resources PLC ("Paragon" or the "Company") UPDATE

The  Company  held  its  2015  Annual  General  Meeting  on  26  May  2015.  The  Ordinary  Resolutions  were  all  passed.  
The  Directors  had  originally  intended  to  put  to  the  Shareholders  at  the  AGM  the  Special  Resolution  to  reorganise  the  Company's  share  capital,  adopt  new  articles  of  association  and  dis-­‐apply  pre-­‐emption  rights  to  allow  the  Directors  to  allot  new  Ordinary  Shares  for  cash.  
In  light  of  discussions  in  the  run-­‐up  to  the  AGM  as  to  the  basis  upon  which  it  was  most  likely  to  be  advantageous  for  the  Company  to  consolidate  the  Ordinary  Shares,  the  Directors  decided  not  to  put  that  resolution  to  Shareholders  at  the  AGM.  Having  now  received  further  advice  and  held  further  discussions,  it  is  now  proposed  that  the  consolidation  is  on  the  basis  of  one  Ordinary  Share  of  £0.05  for  every  one  hundred  Ordinary  Shares  of  £0.0005.    The  Directors  have  concluded  that  the  interests  of  the  Company  are  best  served  with  this  revised  consolidation.  A  Notice  of  EGM  will  be  sent  out  on  28  May  on  this  basis.    

ENDS



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