Pan Pacific Aggregate Raises GBP1.5M In 750M Share Placing

LONDON (Dow Jones)--Pan Pacific Aggregates PLC (PPA.LN), an operator of quarries in British Columbia, Thursday announces that on July 14 it issued and allotted 750,000,000 new ordinary shares of 0.1 pence each (representing approximately 46% of the current issued share capital of the Company) at a price of 0.2 pence per share, to raise GBP1,500,000 (before expenses). MAIN FACTS: -The net placing proceeds will put the Company in a strong position to continue to pursue its strategy in and around the Fraser Valley, British Columbia by developing a robust local position, both organically and through acquisition. -62.5 million shares were subscribed for by Euan McAlpine a Director of the Company, representing 3.95% of the enlarged issued share capital. -Shares at 1155 down 0.03 pence, or 7.1%, at 0.3 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires July 15, 2010 07:56 ET (11:56 GMT)