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22 Dec 2010 07:00
Pathfinder Minerals Plc
("Pathfinder" or "the Company")
Announcement of Suspension of Trading
On 21 December 2009 the Company announced that it had received shareholder approval to dispose of its legacy property business and, pursuant to Rule 15 of the AIM Rules for Companies, Pathfinder became an investing company. Under Rule 15 Pathfinder is required to make an acquisition which constitutes a reverse takeover within 12 months from becoming an investing company.
Pathfinder is in advanced negotiations with a third party to acquire that company's entire issued and to be issued share capital. Such an acquisition will constitute a reverse takeover and, following shareholder approval at a General Meeting to be convened, the Company's shares will be re-admitted to trading. However, a reverse takeover has not been completed within the prescribed timeframe and therefore trading in the Company's shares will be temporarily suspended with effect from today.
In the event the Company does not complete an acquisition constituting a reverse takeover by 23 June 2011, the Company's shares will be cancelled from trading on AIM.
The Company expects to make a further announcement shortly.
For further information please contact:
Pathfinder Minerals Plc
Nicholas Trew, Chairman Tel: 020 7834 0321
Daniel Stewart & Company Plc
Oliver Rigby Tel: 020 7776 6550
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