1 Aug 2014 09:41
Plutus Resources plc
("Plutus Resources" or the "Company")
Acquisition update
As previously announced on 31 January 2014, the Company has now entered into a letter of intent for the acquisition of the remaining 75% interest of the share capital of Attune Energy Limited (now renamed "Plutus Energy Limited") which is not owned by Plutus Resources ("Proposed Acquisition").
The Proposed Acquisition would constitute a reverse takeover under the AIM Rules and will therefore be conditional, inter alia, on the publication of an admission document by the Company and the approval of shareholders of Plutus Resources at a general meeting.
In accordance with the AIM Rules for Companies, trading in the ordinary shares of Plutus Resources was suspended with effect from 7:30 a.m. on 31 January 2014, pending publication of an admission document.
The Company is making good progress with the Proposed Acquisition but there can be no certainty that the transaction will be concluded successfully.
The Company has been allowed an extension to the previously advised date of cancellation of its ordinary shares from trading on AIM, pending the conclusion of the Proposed Acquisition and the Company will make a further announcement regarding this matter as soon as possible.
Enquiries:
Plutus Resources plc
+44 (0) 20 8720 6562
Charles Tatnall
James Longley
S.P. Angel Corporate Finance LLP
+44 (0) 20 3463 2260
Ewan Leggat
Laura Harrison