13 May 2014 10:00
Immediate release 13 May 2014
Brady Exploration plc
("Brady" or the "Company")
Share price movement
The Board of Brady note the recent movement in the Company's share price and can confirm that the Company is in advanced stages with regard to the raising of additional capital for the Company which will also result in the strengthening of the Board.
It is expected that the Company will raise circa £400,000 in new equity at a price of 0.5 pence per share. As part of the proposals a new investing policy will be put in place and the funds raised will be used to enable the Company to pursue its new investment policy which would focus on the natural resources sector in South East Asia. The proposals will be subject to approval by shareholders in a general meeting.
At this stage, however, it is important to note that no definitive agreements have been signed and there can be no guarantee that such a fund raising will proceed.
Further announcements will be made in due course.
For further information on the Company, visit: www.bradyexploration.com or contact:
Alex Borrelli
| Brady Exploration plc | Tel: +44 (0) 7747 020 600 |
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Nick Naylor Nick Athanas Michael McNeilly
| Allenby Capital Limited (Nominated Adviser and Joint Broker) | Tel: +44 (0) 20 3328 5656 |
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Jon Levinson Lucy Williams | Peterhouse Corporate Finance (Joint Broker) | Tel: +44 (0) 20 7469 0935 |