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?2.05m Placing & Issue of Equity

31 Aug 2010 12:23

RNS Number : 8741R
Berkeley Mineral Resources PLC
31 August 2010
 



BERKELEY MINERAL RESOURCES PLC

("BMR" or "the Company")

 

 

 

ACQUISITION UPDATE

 

£2.05m PLACING & ISSUE OF EQUITY

 

 

Berkeley Minerals Resources plc, the AIM listed company that is primarily engaged in processing mining tailings, is pleased to announce that the initial indications from the metallurgical due diligence at the Kabwe Mine in Zambia, show that the metal contained in the washplant dumps meets all expectations.

 

Pursuant to the announcement made on 19 August 2010, the Company has conditionally placed a total of 136,666,666 new ordinary shares (the "Placing Shares") in the capital of the Company (the "Ordinary Shares") at a placing price of 1.5 pence per share (the "Placing") to raise £2,050,000 gross of expenses. For every two placing shares subscribed, the placees are being issued a warrant exercisable at 3p. The placing proceeds are to be used in connection with the Company completing the acquisition of the rights to process the stockpiles of lead and zinc at the Kabwe Mine.

 

The Placing Shares will rank pari passu with all existing Ordinary Shares in the capital of the Company, and application will be made for the Placing Shares to be admitted to trading on AIM ("Admission"). Admission is expected to commence on 1 September 2010, when the enlarged issued share capital of the Company will total 502,450,863 Ordinary Shares (the "Enlarged Share Capital").

 

Following the Placing, the above figure of 502,450,863 Ordinary Shares may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Berkeley Minerals Resources under the Financial Service Authority's Disclosure and Transparency Rules.

 

 

31 August 2010

 

Contacts:

 

Masoud Alikhani, Chairman, Berkeley Mineral Resources 020 7408 1181

 

Stewart Dickson / Jonathan Wright, Seymour Pierce 020 7107 8000

 

Michael Padley / Gary Middleton, Lothbury Financial Services 020 7868 2010

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IOEKKDDBDBKDKFN
Date   Source Headline
26th Nov 20099:07 amRNSFinal Results
10th Nov 20097:00 amRNSPlacing
14th Oct 20097:00 amRNSDirector Shareholding
13th Oct 20097:00 amRNSFurther grant of mining rights
6th Oct 20099:00 amRNSDirector Shareholding
1st Oct 20097:00 amRNSKabwe Dumps Acquisition Update
31st Mar 20092:00 pmRNSInterim Results
30th Jan 200912:14 pmRNSAGM Statement
30th Dec 200812:00 pmRNSFinal Results
16th Dec 20087:00 amRNSPositive Assay Results
24th Jul 20081:36 pmRNSTotal Voting Rights
8th Jul 20087:00 amRNSZambian Mining & Processing R
27th Jun 20085:00 pmRNSStatement re: Share Price Mov
28th Mar 20087:01 amRNSInterim Results
6th Mar 200812:53 pmRNSChange of Name
13th Feb 20082:24 pmRNSGeneral Meeting
21st Dec 20073:22 pmRNSFinal Results
20th Nov 20072:04 pmRNSDirector/PDMR Shareholding
19th Nov 200710:22 amRNSHolding(s) in Company
9th Nov 20073:00 pmRNSHolding(s) in Company
9th Nov 20077:01 amRNSNew Activity / Funds raised
26th Oct 200710:35 amRNSHolding(s) in Company
5th Sep 20071:55 pmRNSHolding(s) in Company
20th Aug 20077:01 amRNSAIM Rule 26
30th Jul 200711:25 amRNSCompany Update
4th May 20071:57 pmRNSBoard Change
29th Mar 20071:14 pmRNSInterim Results
27th Mar 20071:50 pmRNSVoice Quality Software Stack
29th Dec 200611:25 amRNSPreliminary Results
22nd Dec 20069:59 amRNSTotal Voting Rights
24th Nov 20067:00 amRNSProduct Launch
23rd Nov 20067:00 amRNSConference Attendance
11th Sep 20067:01 amRNSVoice Quality Software
5th Jul 20068:00 amRNSICB Reclassification
31st Mar 20064:09 pmRNSInterim Results
6th Mar 200612:40 pmRNSSale of shareholding
21st Feb 20067:00 amRNSRe: Licensing Agreement
27th Jan 200611:12 amRNSAGM Statement
27th Jan 200611:09 amRNSRe: Placement of shares
23rd Dec 200512:03 pmRNSAnnual Report and Accounts
22nd Dec 200512:00 pmRNSFinal Results
29th Nov 20057:00 amRNSRe Joint Venture
3rd Oct 20057:00 amRNSContract Update
3rd Oct 20057:00 amRNSRe Contract
25th Jul 20054:02 pmRNSHolding(s) in Company
11th Jul 20057:00 amRNSIssue of Equity
27th Jun 20057:00 amRNSNew Contract Awarded
16th Jun 20057:00 amRNSC3 Product Delivery completed
10th Jun 200512:30 pmRNSGrant of Share Options
31st May 20059:00 amRNSTechnology Supply Agreement

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