Sign In
9 Jul 2010 11:44
For Immediate Release: 9 July 2010
EMERGING METALS LIMITED ("EML" or the "Company") Disposal
The Company is pleased to announce that it has entered into an agreement to dispose of its entire holding of 368,721 shares in Extract Resources Limited ("EXT Shares") to Nippon Uranium Resources (Australia) Proprietary Limited at a price of A$7.00 in cash per EXT Share. The gross proceeds of the sale will be A$2,581,047, approximately £1.48 million, which will be available for EML to apply in accordance with its investing policy approved by shareholders on 16 April. The sale is conditional on certain Australian regulatory approvals and completion is expected to be no later than 17 August 2010.
Extract Resources Limited ("EXT") is an ASX listed uranium exploration and development company with significant uranium assets in Namibia, namely the Husab uranium project comprising the Rossing South, Ida Dome and Hildenhof deposits and the EXT Shares represent approximately 0.15 per cent. of EXT's issued share capital.
ENQUIRIES:Emerging Metals Religare Capital Fox-Davies Capital GTH Communications Limited Markets Limited Daniel Fox-Davies Denham Eke Peter Toby Hall Trevelyan-Clark +44 (0) 20 7936 +44 (0) 1624 5200 Christian Pickel 639396 Emily Staples +44 (0) 20 3103 3900 +44 (0) 20 7444 0800
vendor
Follow the stocks
