Share Placing
18 February 2009
AIM quoted - Strategic Natural Resources PLC (”SNR” or “the Company”) announces that it has raised £309,450 through a placing of 3,438,333 new ordinary shares in the Company at 9 p per share by HB Corporate to a combination of new investors as well as certain members of the Board (the “Placing”). The funds, after expenses, raised under the Placing will be used for general working capital purposes.
The new ordinary shares will rank in full for all dividends or other distributions hereafter declared, made or paid on the ordinary share capital of the Company and will rank pari passu in all other respects with all other ordinary shares in issue.
Application will be made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM and it is expected that the new ordinary shares will be admitted to trading on 12 March 2009.
The total number of ordinary shares in issue following the Placing will be 68,438,333.
The Directors’ participation in the Placing constitutes a related party transaction under the AIM rules for Companies and the Board of the Company, with the exception of those directors participating in the Placing, having consulted with the Company’s nominated adviser, HB Corporate, consider that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
For further information, please contact:
Strategic Natural Resources plc
David Nel, Chief Executive Officer
+27 (0) 41 374 0842
Jeremy Metcalfe, Communications Director
+44 (0)7785 346 718
Nominated Adviser and Joint Broker - Allenby Capital Limited
Nick Naylor / Alex Price / James Reeve
+44 (0) 20 3328 5656
Joint Broker - SP Angel Corporate Finance Limited
Emin Eyi / Tercel Moore
+44 (0) 207 647 9646
FTI Consulting
Ben Brewerton / Georgia Mann
+44 (0)207 831 3113