TORONTO, April 15 /CNW/ - Polo Resources Limited announces that on April 15, 2009 it acquired 250,000 fully paid ordinary shares of Extract Resources Limited (TSX: EXT ASX: EXT) ("Extract"), through the facilities of the Australia Stock Exchange at a price of AUS$3.65 dollars per share (or Cdn.$3.18 based on the Bank of Canada noon rate of Cdn.$0.8699 per AUS$1.00).
These shares, together with shares already owned by certain associates of Polo Resources, totalling 22,521,700 shares, represent approximately 10.1% of Extract's fully paid ordinary shares outstanding, based on Extract's public disclosure. The shares have been acquired for investment purposes. Depending on market conditions, Polo Resources Limited may acquire additional Extract fully paid ordinary shares.
EXT Price at posting:
$3.60 Sentiment: Buy Disclosure: Held
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