Sign In
8 Jul 2008 16:43
REGENCY MINES PLC
Trading UpdateĀ and Option Exercise
Dated:Ā 8Ā JulyĀ 2008
Regency Mines plc ("Regency" the "Company") the mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea,Ā announces recent developments at its Mambare lateritic nickel-cobalt project in Oro Province, Papua New Guinea.
TheĀ rotary drilling contractĀ will begin upon arrival of theĀ seven rigsĀ on site, which is currently expected to be by mid-August.Ā The duration of the initial 10,000 metre programme is estimated at 120 days.
TheĀ ground-penetrating radarĀ programme, announced onĀ 14 April 2008,Ā has been concluded and the Company awaits results, which are expected shortly.
OnĀ 7 JulyĀ 2008 the CompanyĀ allottedĀ issuedĀ 5,500,000 new ordinary shares of 0.1p each in the capital of the Company (the "Shares") at 2p per Share upon the exercise ofĀ 5,500,000 options expiring 30thĀ April 2008.Ā 2,500,000 options lapsed unexercised.Ā Kenneth Watson, a Director of the Company, exercisedĀ 500,000Ā options and was allottedĀ 500,000Ā Shares at 2p per Share.Ā As a resultĀ Kenneth Watson's shareholding inĀ the Company increased fromĀ 10,000,004Ā ordinaryĀ shares toĀ 10,500,004Ā ordinary shares, representing 4.8% of the issued share capital of the CompanyĀ as enlarged by the issue of the Shares.
FurtherĀ on the 18 September 2007 an application was made for 16,714,286 ordinary sharesĀ of 0.1p each in the capital of the CompanyĀ to be admitted to trading on AIM however 16,714,287 ordinary shares wereĀ allotted andĀ issued.Ā Application has been made to the London Stock Exchange forĀ theĀ one ordinary shareĀ (the "Correction Share")Ā to be admitted to trading on AIM
Following the issue of the Shares the Company's total issued share capital will beĀ 219,940,663Ā ordinary shares. Application has been made to the London Stock Exchange forĀ 5,500,001 ordinary sharesĀ to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. onĀ 14Ā JulyĀ 2008.
Enquiries:Ā
|
Andrew Bell |
0207 402 4580 or 07766 474849 |
Regency Mines plc |
Chairman |
|
Ā |
Ā |
Ā |
Ā |
|
John Simpson |
020Ā 7489 4500 |
BlomfieldĀ Corporate Finance Ltd |
Nominated Adviser |
|
Ā |
Ā |
Ā |
Ā |
|
Ron MarshmanĀ /Ā John Greenhalgh |
020 7628 5518 |
City of London PRĀ Limited |
Public Relations |
Updates on the Company's activities are regularly posted on its website,Ā www.regency-mines.com.
Follow the stocks
