Management Resource Solutions Regulatory News (MRS)

6 Apr 2005 14:51

Melrose Resources PLC06 April 2005 For immediate release 6 April 2005 Melrose Resources plc ("Melrose" or the "Company") Dividend Timetable Melrose Resources plc, the Edinburgh based oil and gas exploration, developmentand production company, today announces the timetable for payment of itsproposed maiden dividend which was announced in its Preliminary Results on 31March 2005. Subject to shareholder approval at the Company's Annual General Meeting, to beheld on 20 June 2005, Melrose will pay a dividend of 1 penny per share to thoseshareholders on the register at the close of business on 24 June 2005. Paymentwill be made, as announced, on 13 July 2005. Commenting on Melrose's maiden dividend, Chairman Robert Adair said: "Melrose has now reached a stage in the Company's development where ourexploration and development activities are increasingly being funded throughcashflow. We feel that it is appropriate that shareholders are provided with adividend and, subject to the capital requirements of the business, it will beour policy to increase the level of dividend progressively as production andcashflow increases." For further information please contact: Melrose Resources plcRobert Adair, Chairman 0184 553 7037Munro Sutherland, Finance Director 0131 221 3360Chris Thomas, Corporate Development Director 0207 462 1603 Buchanan CommunicationsBen Willey 0207 466 5000Eric Burns 0194 388 3990 or visit our website at www.melroseresources.com. This information is provided by RNS The company news service from the London Stock Exchange