SRX.L Regulatory News (SRX)

8 May 2007 08:10

Titanium Resources Group Ltd08 May 2007 NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES Titanium Resources Group Ltd Placing of new common shares raises £17.6 million ($35.2 million) 8 May 2007: Titanium Resources Group Ltd ("TRG" or "the Company") announces thesuccessful completion of the placing of 27,077,000 new common shares ("thePlacing Shares") announced on 2 May 2007 ("the Placing"). The Placing withinstitutional investors at a price of 65 pence per share raised approximately£17.6 million (US$35.2 million) before expenses. The Placing representsapproximately 11.6 percent of the enlarged issued share capital of the Companyof 234,278,553 common shares. The Placing Shares were admitted by the London Stock Exchange for trading on AIM("Admission") today. The Placing Shares will rank in full for all dividends orother distributions made, paid or declared after Admission and pari passu in allother respects with the existing common shares. Based upon the share register of the Company as at 27 April 2007, being the lastdate that the Company requested a copy of the same from its Registrar, and thePlacing Shares allotted; shareholders holding more than 3 percent of theCompany's enlarged total voting share capital now comprise the following: Shareholder Common shares held Percentage Leopard Titanium Limited 90,320,332 38.6Morstan Nominees Limited - A/C SEG 42,680,478 18.2N.Y. Nominees Limited 24,649,400 10.5Vidacos Nominees Limited - A/C FGN 10,146,000 4.3 Pursuant to the Placing, a total of 11,500,000 common shares, representing 4.9percent of the enlarged share capital of the Company, has been registered in thename Morstan Nominees Limited. The number of TRG common shares held by Leopard Titanium Limited is unchanged asa result of the Placing. Commenting on the Placing, Len Comerford, Chief Executive of TRG, said: "The funds raised through the Placing will enable us to deliver the range ofopportunities that currently exist and to seek additional growth opportunitiesin order to enhance the competitive position of the Company. I would like tothank our shareholders for their continued support as we develop our world classassets in Sierra Leone." THE SECURITIES REFERRED TO IN THIS RELEASE WILL NOT BE REGISTERED UNDER THEUNITED STATES SECURITIES ACT OF 1933 OR THE LAWS OF ANY STATE AND MAY NOT BEOFFERED OR SOLD IN THE UNITED STATES ABSENT SUCH REGISTRATION OR AN APPLICABLEEXEMPTION FROM REGISTRATION REQUIREMENTS. For further information: Len Comerford / Walter Kansteiner Titanium Resources Group Ltd. Telephone: +44 20 7321 0000 Michael Oke / Andy Mills Aura Financial Telephone: +44 20 7321 0000 Nominated Adviser John Wilkes Nabarro Wells & Co. Limited Telephone: +44 20 7710 7400 Graham Swindells/Richard Dunn Arbuthnot Securities Telephone: +44 20 7012 2000 William Smith BMO Capital Markets Telephone: +44 20 7664 8120 This information is provided by RNS The company news service from the London Stock Exchange