Last checked at 21 Feb 2012 09:30
Ferrex plc / Index: AIM / Epic: FRX / Sector: Mining
21 February 2012
Ferrex plc ('Ferrex' or 'the Company')
Director's Dealing
Ferrex plc, the AIM quoted iron ore and manganese development company focused in Africa, announces that it today received notification that on 14 February 2012 The Elanwi Trust purchased 1,000,000 Ordinary Shares of 0.5 pence per share ('Ordinary Shares') at a purchase price of two pence. The trustee of the Elanwi Trust is Mrs. Eleanor Reeves, wife of Mr. Dave Reeves, the Company's Managing Director.
As a result of this transaction the Elanwi Trust holds 96,446,523 Ordinary Shares in the Company representing 18.6% of the Company's total voting rights.
Mr. Dave Reeve's total holding, including those held indirectly through the Elanwi Trust amounts to 96,446,523 Ordinary Shares in the Company representing 18.6% of the Company's total voting rights.
**ENDS**
For further information please visit www.ferrexplc.com or contact the following:
Dave Reeves | Ferrex plc | + 61 (0) 420 372 740 |
Russell Lamming | Ferrex plc | + 44 (0) 781 0870 587 |
Colin Aaronson/ David Hignell | Grant Thornton Corporate Finance | +44 (0) 20 7383 5100 |
John Prior / Sebastian Jones | Collins Stewart Europe Limited | +44 (0) 20 7523 8350 |
Felicity Edwards | St Brides Media and Finance Ltd | +44 (0) 20 7236 1177 |
Notes
Ferrex plc is an AIM quoted exploration and development company focused on advancing low capex iron ore and manganese projects in Africa through the development cycle and into production. Our current property portfolio comprises iron ore (Malelane) and manganese (Leinster) projects in South Africa, a manganese project (Nayega) in Togo and a manganese project (Changara) in Mozambique, all of which offer the potential for significant near-term value uplift.
The Company's growth strategy is centred on advancing its current assets, utilising its Board and management team's considerable experience in developing resource projects across Africa and expanding its portfolio through acquisitions to build Ferrex into a mid-tier, low-cost producer of iron ore and manganese.