Herencia Resources Regulatory News (HER)

27 Sep 2007 16:03

Herencia Resources PLC27 September 2007 Herencia Resources plc ("Herencia" or the "Company") Issue of Deferred Consideration Shares Herencia announces that the conditions attaching to the issue of deferredconsideration shares to Mineral Securities Limited, or its nominees, ("Minsec")pursuant to the Acquisition Agreement dated 14 October 2005 have now beensatisfied. The allotment of these deferred consideration shares was conditional on Herenciaspending at least US$2 million on the Paguanta and/or Iquique Projects within 36months of the Acquisition Agreement. Due to early drilling success at Paguanta,Herencia committed to an extensive drilling program, which was recentlycompleted; the resulting high grade zinc/silver/lead intersections was announcedto the market on 19 September 2007. The successful completion of this drillingprogram also saw the conditions for the issue of deferred consideration sharesto Minsec being met. In accordance with the terms of the Acquisition Agreement, Herencia advises thatit has issued 47,000,000 new ordinary shares of 0.1p each in the Company ("Ordinary Shares") to Minsec, and 3,000,000 Ordinary Shares to advisers toMinsec. Application has been made for the new Ordinary Shares to be admitted totrading on AIM and dealings are expected to commence on 3 October 2007 ("Admission"). Following this issue of shares the Company has a total of434,066,666 Ordinary Shares in issue. On Admission, Minsec will be interested in 199,666,667 Ordinary Shares, whichrepresents approximately 46 per cent of the Company's issued share capital. For further information please contact WH Ireland Limited Tel: +44 (0) 161 832 2174David Youngman/Katy Mitchell Herencia Resources plcMichael Bohm Tel: +61 (0) 8 9325 8888 This information is provided by RNS The company news service from the London Stock Exchange