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Pin to quick picksStrategic Minerals Regulatory News (SML)

Share Price Information for Strategic Minerals (SML)

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Trading of American Depository Receipts (ADR'S)

22 Feb 2012 07:00

RNS Number : 8772X
Strategic Minerals PLC
22 February 2012
 



For immediate release: 22 February 2012

 

Strategic Minerals Plc

("Strategic Minerals" or the "Company")

 

 

Trading of American Depository Receipts ("ADRs")

 

Strategic Minerals Plc (AIM: SML), the magnetite focused iron ore producer and exploration company, is pleased to announce that with effect from 21st February 2012, ADRs in the Company's ordinary shares will be traded on the Over-The- Counter ( "OTC") market in the US.

 

Each ADR represents 100 ordinary shares in Strategic Minerals. No more than 25 per cent. of the Company's issued ordinary share capital can be represented by ADRs at any given time. The ticker symbol of the ADRs is SMCDY and the CUSIP is 86277J103.

 

ADRs allow US investors to buy shares in foreign companies without the need for cross-border or cross-currency transactions. They are priced and pay any dividends in dollars and can be traded like the shares of US-based companies.

 

Strategic Minerals retains its primary listing on AIM.

 

Strategic Minerals is currently developing a portfolio of near term production and exploration projects in North America and Australia. Freighting of magnetite from its Cobre Project in New Mexico has already commenced.

 

Chairman of Strategic Minerals, Steven Saunders, commented:

"In line with our strategy to develop a portfolio of projects in North America - in addition to those in Australia - it is only logical for us to have a facility whereby our shares can be traded locally in North America."

 

 

For further information:

 

Company

Strategic Minerals plc

+61 2 9221 2095

Alex Borrelli

+44(0) 7747 020 600

 

Nominated Adviser/Joint Broker

Allenby Capital Limited

Jeremy Porter / James Reeve

+44 (0) 20 3328 5656

 

Joint Broker

Daniel Stewart & Company Plc

Sean Lunn / David Hart

+44 (0) 20 7776 6550

 

Financial Public Relations

GTH Communications Limited

Toby Hall / Suzanne Johnson Walsh

+44 (0) 20 3103 3903

 

 

 

About Strategic Minerals

Strategic Minerals plc (AIM: SML) is developing a portfolio of projects that provide near term production along with those that potentially offer longer term capital gains. Strategic Minerals currently holds iron ore stockpile assets in North America and exploration properties in Australia.

 

www.strategicminerals.net.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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