Sterling Resources Announces Agreement with Significant Shareholders to Support Ongoing Growth as a Public Company

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Sterling Resources Ltd. (SLG.V) announced that it has reached agreement with several of its largest shareholders, including Vitol Energy (Bermuda) Limited, Meridian Capital International Fund, YF Finance Limited and Waterford Finance and Investment Limited, collectively representing approximately 39% of the issued and outstanding common shares of the company, to support the ongoing growth of Sterling as a public company.

As part of this agreement, Sterling will propose for election at the company's annual general and special meeting of shareholders to be held on June 11, 2013, two new members to the board of directors. In addition, Vitol Anker International B.V., an affiliate of Vitol Bermuda, has confirmed that it has abandoned its previously announced intention to make a take-over bid for Sterling's Common Shares.




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This article appears in: Investing , Commodities

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