24 May 2017 09:06
24th May 2017
Pembridge Resources Plc
("Pembridge" or "the Company")
Signing of Share Purchase Agreement
Pembridge Resources plc (LON: PERE), the AIM listed natural resource exploration and development company, today announces that a Share Purchase Agreement (SPA) has been signed between Pembridge Resources (the Seller) and Global Exploration Technologies PTY ltd ("GET") (the Buyer) for the sale of the Botswana assets currently held by PERE.
Further to the RNS on 1 February 2017, Pembridge has sold its 48.88 per cent shareholding for a consideration of £150,000 payable in cash to GET for five exploration licences in the Kalahari Copper Belt in Botswana held through three local subsidiary companies. The proceeds will be used to fund normal working capital.
David Linsley, CEO, Stated:
"Although excellent exploration licenses, we feel that these Botswana assets are too early stage for Pembridge and, with the minority shareholding, did not fit in with the company strategy that we are pursuing..
"Pembridge has an attractive pipeline of more advance stage projects management is pursuing which we are confident can deliver excellent value for our shareholders."
For further information on the Company, visit: http://www.pembridgeresources.com/
Pembridge Resources PLC David Linsley, Chief Executive Officer
| T: +44 (0)203 778 0655 |
SPARK Advisory Partners - Nominated Adviser Sean Wyndham-Quin Neil Baldwin
| T: +44 (0) 2033 683 555
www.sparkadvisorypartners.com |
Shard Capital - Joint Broker Damon Heath
SI Capital Limited - Joint Broker Nick Emerson Andy Thacker
| T: +44 (0) 20 7186 9900
T: +44 (0) 1483 413 500 |
Beaufort Securities Limited - Joint BrokerZoe Alexander | T: +44 (0) 207 382 8300 |
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Blytheweigh - Financial PR Tim Blythe, Camilla Horsfall, Nick Elwes | T: +44 (0) 207 138 3204
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