Last checked at 16 Jan 2013 07:00
16 January 2013
Independent Resources plc
("IRG" or "the Company")
Strategic Alternatives process
The Board of IRG wishes to announce that it is considering a range of strategic alternatives to enhance shareholder value which may include farm outs, the sale of assets, and the merger or sale of the Company.
The Company confirms that it has held, and is continuing to hold, preliminary discussions with a number of third parties concerning a range of these potential transactions. However, none of these discussions have progressed to a stage where the outcome is definitive and there can be no certainty that any of these discussions will result in a transaction. The Company will provide further updates in due course and the Board reserves the right to reject any approach and to terminate discussions with any interested party at any time.
As at 11th January 2013, the Company had a cash balance of £1.8 million.
Further announcements will be made in due course.
IRG is not a company to which the City Code on Takeovers and Mergers applies.
For further information, please visit www.ir-plc.com or contact: | ||
Grayson Nash | Independent Resources plc | +39 06 4549 0720 |
Allan Piper/Simon Hudson | Tavistock Communications | 020 7920 3150 |
David Porter/Richard Thompson (Corporate Finance) | Seymour Pierce Limited | 020 7107 8000 |
Richard Redmayne/David Banks (Corporate Broking)
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Phil Davies / James Wood (Corporate Broking) | Charles Stanley Securities | 020 7149 6074 |