Adm Energy Regulatory News (ADME)

30 Jul 2008 17:46



PAN PACIFIC AGGREGATES PLC ("PPA" or the "Company")

FUNDRAISING COMPLETED

Following the Company's announcement of the issue of 49,700,000 new ordinary shares on 25 July 2008 (the "Initial Share Issue"), PPA has today raised an additional £523,000 through the issue of a further 52,300,000 new ordinary shares (the "Further Shares"). In total, the Company has raised £1.02 million and will now be focussing on upgrading and increasing production at its Pumptown Quarry, and completing its evaluation of the Pine Flats deposit. The Further Shares were issued by PPA on the same terms as the Initial Share Issue, being for a consideration of 1 penny per ordinary share. Application has been made for the Further Shares to be admitted to AIM and it anticipated that they will commence trading on 5 August 2008.

Commenting on the closing of the placement Don Nicholson, Chairman, and William Voaden, CEO, stated: "We are very pleased to have completed this placing which allows us to continue the development of production plans for Pumptown Quarry. Furthermore, this enables the company to complete its evaluation of the Pine Flats deposit and other opportunities." 

Enquires:

Pan Pacific Aggregates PLC

William Voaden Tel: 020 7096 9580

Hanson Westhouse Limited

Tim Metcalfe/ Harry Barraclough  Tel: 020 7601 6100