RGM.L Regulatory News (RGM)

28 Jun 2006 07:01

Regency Mines PLC28 June 2006 REGENCY MINES PLC Issue of Equity Dated: 28 June 2006 Regency Mines plc (the "Company") the mining exploration and mineral investmentcompany with interests in copper and nickel in Western Australia, Queensland,and Papua New Guinea, has raised £89,750 (gross) by the issue of 4,786,666 newordinary shares of 0.1p each in the capital of the Company (the "Shares") at1.875p per Share, conditional on the Shares being admitted to trading on AIM.The funds are to supplement the Company's working capital. 4,286,666 of the Shares were placed at 1.875p per Share under the terms of aconditional agreement dated 1st June 2006 between the Company and SunvestCorporation Limited ("Sunvest"), a company incorporated in Australia and listedon the Australian Stock Exchange. Following this transaction Sunvest isinterested in 4,286,666 Shares representing 3.3% of the enlarged issued sharecapital of the Company Under further terms of the agreement, (a) following certain approvals by ageneral meeting of Sunvest to be held on 11th July 2006, Sunvest will subscribefor a further 4,286,666 ordinary shares of 0.1p in the Company at 2p per Share(the "Further Shares"), and the Company will subscribe for 200,000 shares inSunvest at A$1.00 per share, at an agreed exchange rate of A$2.48835 to £1, and(b) Sunvest has stated that it intends to hold the Shares and the Further Sharesas a long-term investment, and has undertaken not to dispose of more than220,000 ordinary shares in the Company per month, and (c) the Company has statedthat it intends to hold the Sunvest shares as a long-term investment, and hasundertaken not to dispose of more than 10,000 shares in Sunvest per month. Bellmin Limited ("Bellmin"), a company associated with Andrew Bell, hassubscribed £9,375 for 500,000 Shares at an issue price of 1.875p per Share.Following this transaction Bellmin and Andrew Bell are directly and indirectlyinterested in 42,700,002 Shares representing 32.9% of the enlarged issued sharecapital of the Company. Following the issue of these Shares the Company's total issued share capitalwill be 129,897,262 ordinary shares. Application has been made to the LondonStock Exchange for the Shares to be admitted to trading on AIM. Dealings areexpected to commence at 8.00 a.m. on 4 July 2006. A further announcement will be made in the event that the Further Shares areissued. Enquiries: Andrew Bell 07766 474849 Red Rock Resources plc ChairmanJohn Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated AdviserRon Marshman / 020 7628 5518 City of London PR Limited Public RelationsJohn Greenhalgh This information is provided by RNS The company news service from the London Stock Exchange