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23 Nov 2015 07:00
23 November 2015
Leed Resources Plc (‘Leed’ or ‘the Company’)
Issue of Ordinary Shares to Consultant
Leed, the AIM quoted investment company focused on natural resource and building materials projects in Asia, announces that it is issuing 32,900,000 Ordinary Shares at a deemed price of 0.1p for a total consideration of £32,900 to PG Mining Management (“PGMM”) pursuant to an agreement between PGMM and the Company.
This agreement provided for a payment, part of which could be settled in shares, for their consultancy work on behalf of the Company. PGMM has elected to have the larger portion of their payment in shares with the number of shares determined by a nominal price of 0.1p.
Ian Gibbs, Chairman of Leed said:
“PGMM has been instrumental in providing due diligence on and indeed providing continuing top level management to High Mannor in Australia. It is a significant sign of confidence that they wish to take Leed shares in payment at such a premium to the market price”.
The Company has applied for admission of the 32,900,000 new Shares to trading on AIM. Dealings are expected to become effective on 27 November 2015 (‘Admission’). Following Admission, the Company will have 3,138,077,765 Shares in issue with each Share carrying the right to one vote. There are no shares currently held in treasury. The total number of voting rights in the Company therefore will be 3,138,077,765 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Rules and Transparency Rules.
Enquiries:Leed Resources PlcCharles Zorab, +44 20 3405 4214
Nomad and broker: SP Angel Corporate Finance LLP LimitedEwan Leggat/Laura Harrison, +44 20 20 3470 0470
View source version on businesswire.com: http://www.businesswire.com/news/home/20151122005025/en/
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