Metals Exploration Regulatory News (MTL)

21 Feb 2006 16:38

Metals Exploration PLC21 February 2006 METALS EXPLORATION PLC ISSUE OF SHARES 21 February 2006 Metals Exploration PLC ("the Company") today announces that it has issued andallotted 400,000 new ordinary shares of 1p each ("Shares") in connection withthe Company's interest in the Runruno Project based in the Philippines ("Runruno"). The Shares have been issued as to 200,000 to Filminera Resources Corporation ("FRC") and 200,000 to Christian Mining, Inc. ("CMI") together with cash payments to each of FRC and CMI of $15,000 in connection with the Company's outstanding obligations under the terms of an existing agreement entered into on 1 February 2005 by (1) the Company (2) FCF Mining Corporation (3) FMC and (4) CMI, concerning the Company's acquisition of its interest in Runruno from FRC and CMI. The Shares will rank pari passu with the existing ordinary shares of 1p each inthe Company and trading of these shares on AIM is expected to commence on 27February 2006. The total number of Ordinary Shares in issue following the issue of Shares is50,597,355. This information is provided by RNS The company news service from the London Stock Exchange