Last checked at 7 Apr 2010 07:00
Landore Resources Limited
("Landore" or the "Company")
Placing
Landore, the Canadian mining explorer, today announces that it has agreed to place 11,200,000 new ordinary shares of 1p each in the Company ("Placing Shares") at a placing price of 11p per Placing Share (the "Placing") to raise approximately £1,232,000 before expenses. The proceeds from the Placing will be used to finance working capital and exploration expenditure.
The Placing is conditional on admission of the Placing Shares to trading on AIM. Changes in discloseable interests are as set out below.
| Director | Placing Shares Subscribed | Shareholding immediately following Admission | Percentage of enlarged issued share capital |
|
|
|
|
|
| William Humphries | 2,000,000 | 17,165,000 | 8.53 |
The Placing Shares will represent 5.6% of the enlarged issued share capital of the Company. The number of ordinary shares in issue following the Placing, and the total number of voting rights, will be 201,159,325. The Placing Shares will rank pari passu with existing ordinary shares of 1p each in the Company. Application will be made for admission of the Placing Shares to trading on AIM, and is expected to take place on 13 April 2010.
Enquiries:
Bill Humphries / Richard Prickett
Landore Resources Limited
Tel: 07734 681262
Tel: 07775 651421
Simon Raggett / Angela Peace
Strand Hanson Limited
Nomad / Joint Broker
Tel: 020 7409 3494
Ewan Leggat
Fairfax I.S. PLC
Joint Broker
Tel: 020 7598 5368
David Bick
Financial PR
Tel: 07831 381201