EDR.L Regulatory News (EDR)

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This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of Egdon Resources plc or other evaluation of any securities of Egdon Resources plc or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.

8 November 2016

EGDON RESOURCES PLC

("Egdon" or the "Company")

Posting of Open Offer Circular

Egdon is pleased to announce that, further to its announcement of 1 November 2016, it has today posted a circular (the "Circular") to Qualifying Shareholders regarding an Open Offer of up to approximately £2.06 million. The Circular is also available on the Company's website at www.egdon-resources.com.

All capitalised terms in this announcement have the same meanings as those given to them in the Circular, unless the context otherwise requires.

The Open Offer is being made to Qualifying Shareholders on the register as at the Record Date of close of business on 7 November 2016, for up to 15,234,093 Open Offer Shares1 at 13.5 pence per Open Offer Share (being the same price as the Issue Price for the Subscription, announced on 1 November 2016) on the basis of:

1 Open Offer Share for every 16 Existing Ordinary Shares

As announced on 1 November 2016, the Issue Price represented a discount of approximately 10.0% to the Volume Weighted Average Price of an Existing Ordinary Share in the seven days prior to 1 November 2016.

Qualifying Shareholders are also being given the opportunity, provided that they take up their Open Offer Entitlements in full, to apply for additional Open Offer Shares through an Excess Application Facility.

Full details of the Open Offer, including terms and conditions and details on how to accept the Open Offer, are set out in the Circular posted to Qualifying Shareholders today and available on the Company's website.

1 The announcement of 1 November 2016 stated that up to 15,227,843 Open Offer Shares would be offered under the Open Offer which was based on the expected issued share capital of the Company on the Record Date being 243,645,490 Ordinary Shares. The actual issued share capital of the Company on the Record Date was 243,745,409, which requires 15,243,093 Open Offer Shares to be offered under the Open Offer for it to be made on a 1 for 16 basis.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

Each of the dates in the above timetable is subject to change at the absolute discretion of the Company. If any of the details should change, where appropriate, the revised times and/or dates will be notified to Shareholders by means of an announcement through a Regulatory Information Service.

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