Sports Stars Media : Result of GM and Directorate Change

Sports Stars Media plc

(To be renamed Stallion Resources plc)

("the Company")

Result of GM and Directorate Change

Results of GM

At the General Meeting of the Company held earlier today all resolutions were duly passed.  As a consequence, the Company has disposed of its business including the subsidiaries, and as a result will now be classified as an Investing Company pursuant to AIM Rule 15. The Company's investing policy is set out below.

Highlights

·      David Ajemian  and Cameron Pearce appointed to the Board

·      Name to be changed to Stallion Resources plc

·      Completion of Placing raising £300,000

Directorate Change

The Company announces following the General Meeting that Lyndon Chapman, Non-Executive Chairman, Carlos Amaro, Co-Chief Executive Officer, Ruben Dias, Co-Chief Executive Officer, Sonia Magalhaes, Finance Director, Pedro Matias Maria, Production Director and Miguel Mascarenhas, Non-Executive Directo have resigned as directors of the Company and that David Ajemian and Cameron Pearce have been appointed as directors with immediate effect.

David Ajemian (aged 35) - Non-Executive Chairman

David Ajemian is an entrepreneur and investor based in London. Mr Ajemian is the founder of the United Lions Sports Agency and conducts business between the UK, Europe and the Middle East. He is accredited by FIBA and FIFA as a licensed players' agent for both basketball and football. His investments include the real estate sector in the Middle East.

Following the General Meeting and subscription, David Ajemian has an interest over 58,628,054 ordinary shares representing approximately 6.3% of the issued share capital of the Company and 13,888,888 new warrants with a subscription price of £0.01 and an exercise period until February 2017.

There are no further matters that require disclosure in relation to Mr Ajemian pursuant to Schedule 2 (g) of the AIM rules.

Cameron Pearce (aged 42) - Non-Executive Director

Cameron Pearce has extensive professional experience in both the Australian and United Kingdom finance industries. In recent times he has provided corporate, strategic, financial and advisory assistance to private and public companies in both Australia and the United Kingdom. Mr Pearce is a member of the Australian Institute of Chartered Accountants and has been in commerce over fifteen years holding senior financial and management positions in both publically listed and private enterprises in Australia, Europe, Asia, Africa and Central America. Mr Pearce has considerable corporate and international expertise and over the past decade has focussed on mining and exploration activities. Mr Pearce is currently a Non-Executive Director of ASX listed Magnolia Resources Limited and AIM listed CEB Resources plc.

Following the General Meeting and subscription, Cameron Pearce has an interest over 58,628,054 ordinary shares representing approximately 6.3% of the issued share capital of the Company and 43,888,888 new warrants with a subscription price of £0.01 and an exercise period until February 2017

There are no further matters that require disclosure in relation to Mr Pearce pursuant to Schedule 2 (g) of the AIM rules.

Change of Name

Shareholders have approved that the Company changes its name to Stallion Resources plc. 

Placing

The Company has raised £300,000 through the issue of 500,000,000 new ordinary shares at a price of 0.06 pence per share.  The net proceeds of the subscription will be used for general working capital purposes.

Application has been made to the London Stock Exchange for the 500,000,000 new ordinary shares to be admitted to trading on AIM.  Trading in these shares is expected to commence at 8.00 am on 12 May 2014.  The new ordinary shares will rank pari passu with the existing ordinary shares. 

Investing Policy

The Company's proposed new investing policy is to invest in and/or acquire companies and/or projects within the natural resources and/or energy sector with potential for growth. The Company will also consider opportunities in other sectors as they arise if the directors consider there is an opportunity to generate an attractive return for shareholders.

In selecting investment opportunities, the directors will focus on businesses, assets and/or projects that are available at attractive valuations and hold opportunities to unlock embedded value.

Where appropriate, the directors may seek to invest in businesses where it may influence the business at a board level, add their expertise to the management of the business, and utilise their significant industry relationships and access to finance. The ability to work alongside a strong management team to maximise returns through revenue growth will be something the directors will focus upon initially.

The Company's interests in a proposed investment and/or acquisition may range from a minority position to full ownership and may comprise one investment or multiple investments. The proposed investments may be in either quoted or unquoted companies; be made by direct acquisitions or farm-ins; and may be in companies, partnerships, earn-in joint ventures, debt or other loan structures, joint ventures or direct or indirect interests in assets or projects.  The directors may focus on investments where intrinsic value can be achieved from the restructuring of investments or merger of complementary businesses.

The directors expect that investments will typically be held for the medium to long term, although short term disposal of assets cannot be ruled out if there is an opportunity to generate an attractive return for shareholders. The directors will place no minimum or maximum limit on the length of time that any investment may be held. The Company may be both an active and a passive investor depending on the nature of the individual investment.

There is no limit on the number of projects into which the Company may invest, and the Company's financial resources may be invested in a number of propositions or in just one investment, which may be deemed to be a reverse takeover under the AIM Rules. The directors intend to mitigate risk by appropriate due diligence and transaction analysis. Any transaction constituting a reverse takeover under the AIM Rules will also require shareholder approval. The directors consider that as investments are made, and new promising investment opportunities arise, further funding of the Company may also be required.

Where the Company builds a portfolio of related assets it is possible that there may be cross holdings between such assets. The Company does not currently intend to fund any investments with debt or other borrowings but may do so if appropriate. Investments in early stage assets are expected to be mainly in the form of equity, with debt potentially being raised later to fund the development of such assets. Investments in later stage assets are more likely to include an element of debt to equity gearing. The directors may also offer new ordinary shares by way of consideration as well as cash, thereby helping to preserve the Company's cash for working capital and as a reserve against unforeseen contingencies including, for example, delays in collecting accounts receivable, unexpected changes in the economic environment and operational problems.

Investments may be made in all types of assets and there will be no investment restrictions on the type of investment that the Company might make or the type of opportunity that may be considered. The Company may consider possible opportunities anywhere in the world.

The directors will conduct initial due diligence appraisals of potential business or projects and, where they believe further investigation is warranted, intend to appoint appropriately qualified persons to assist. The directors believe they have a broad range of contacts through which they are aware of various opportunities which may prove suitable, although at this point only preliminary due diligence has been undertaken. The directors believe their expertise will enable them to determine quickly which opportunities could be viable and so progress quickly to formal due diligence. The Company will not have a separate investment manager. The Company proposes to carry out a comprehensive and thorough project review process in which all material aspects of a potential project or business will be subject to rigorous due diligence, as appropriate.

As an Investing Company, the Company will be required to make an acquisition or acquisitions which constitutes a reverse takeover under the AIM Rules or otherwise implement its proposed Investing Policy on or before the date falling twelve months from the adoption of the investing policy failing which, the Company's ordinary shares would then be suspended from trading on AIM. In the event that the Company's ordinary shares are so suspended and the Company fails to obtain shareholders' consent to renew such policy, the admission to trading on AIM would be cancelled six months from the date of suspension.

Total Voting Rights

In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission its issued share capital will consist of 931,313,340 ordinary shares of £0.0003. The Company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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