Altona Energy Regulatory News (ANR)

18 Apr 2007 07:01

Altona Resources PLC18 April 2007 18th April 2007 Altona Resources Plc ("Altona" or "the Company") Issue of Equity Altona Resources plc (AIM:ANR) announces that it has entered into an agreementfor the placing of 43,565,784 new ordinary shares ("the Placing Shares") in theCompany at an issue price of 4.75p per share to raise £2,069,375 before costs ("the Placing"). The Placing has been arranged by Matrix Corporate CapitalLimited ("Matrix"). The proceeds from the Placing will be used for the further development of theCompany's Arckaringa Project in South Australia, including a drilling program todefine the Wintinna deposit in accordance with the current JORC code and toupdate hydrogeological, geotechnical and coal quality data. The Placing Shares will represent 15.39% of the Company's issued share capitalimmediately following the Placing. The Placing Shares will rank pari passu inall respects with the existing ordinary shares of the Company.Application will be made to the London Stock Exchange for the Placing Shares tobe admitted to trading on AIM and admission is expected on 24th April 2007. Following completion of the Placing, Altona will have 283,165,784 ordinaryshares in issue. Pursuant to the Placing, the Company has granted Matrix 3,000,000 options tosubscribe for ordinary shares in the Company, of which 1,500,000 will beexercisable at the Placing price of 4.75p per share, and 1,500,000 will beexercisable at a price of 9.5p per share. The options granted to Matrix willhave a term of five years from the date of grant. Chris Lambert, Chairman of Altona, stated: "We are very pleased with thepositive response and support from new institutional shareholders to thePlacing. Completion of the Placing enables the Company to undertake asignificant programme focused on progressing the Project to the next stage ofdevelopment. This will include the drilling programme and coal testing needed tocomplete mine and Coal-to-Liquids plant design and costing studies required aspart of a bankable feasibility study". - Ends - For further information please contact: Altona Resources plcChristopher Lambert, Chairman +44 (0) 798 0017 108Christopher Schrape, Managing Director +61 (0) 417 984 434 Nabarro Wells & Co LimitedHugh Oram, Director +44 (0) 207 710 7400 Matrix Corporate Capital LimitedAlastair Stratton, Director +44 (0) 207 925 3300 Parkgreen CommunicationsVictoria Thomas +44 (0) 207 851 7480 This information is provided by RNS The company news service from the London Stock Exchange