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Update re Bass shareholding and proposed RTO

7 Mar 2017 09:32

RNS Number : 7363Y
Stratmin Global Resources PLC
07 March 2017
 

7 March 2017

 

 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

 

StratMin Global Resources Plc

("StratMin" or the "Company")

 

Receipt of Monies from sale of Bass Metals Ltd shareholding and Update on Proposed Reverse Takeover

 

Receipt of Bass share sale proceeds and timing confirmation for second payment from Bass Metals Ltd

 

Further to the announcement on 15 December 2016 regarding the early cash settlement of the outstanding payments from Bass Metals Ltd ("Bass") to StratMin and the facilitation of the sale of the Company's 70 million shareholding in Bass, (the "Agreement"), the Company can confirm that it has received AUS$884,000 (circa £540,000) into its UK bank account from the sale of 68 million Bass shares. The Company has received off-market transfer instructions for the remaining shares and expects to complete the transfer and receive funds of a further AUS$25,000 (circa £15,500) by 28 March 2017 in accordance with the announced Agreement. In addition, the Company is due to receive the second payment from Bass under the early settlement agreement of a further A$1,185,000 (circa £734,000) on or before March 15 2017.

 

Update on proposed Reverse Takeover of Signature Gold Limited ("Signature")

 

Further to the announcement of 2 February 2017, StratMin and Signature have made significant progress on the transaction with formal transaction documentation drafting well advanced. The parties have agreed an extension of 10 days to complete the confirmatory due diligence process to allow for the completion of reports. Once the Company completes this, StratMin will enter into a binding Scheme Implementation Agreement with Signature that will be executed as soon as practically possible thereafter.

 

The Company will make any further announcements in due course.

 

For further information please visit www.stratminglobal.com or contact:

StratMin Global Resources Plc

Brett Boynton, CEO

+44 (0) 20 3691 6160

Allenby Capital (Nominated Adviser & Broker)

John Depasquale/ Nick Harriss/Richard A Short

+44 (0) 020 3328 5656

Optiva Securities (Broker)

Christian Dennis

+44 (0) 20 3137 1903

VSA Capital Limited (Financial Adviser)

Andrew Raca

+44 (0) 20 3005 5000

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSSUSUWFWSEED
Date   Source Headline
2nd Aug 20179:30 amRNSUpdate on Reverse Takeover and Cancellation
5th Jul 201710:30 amRNSLoan to Signature Gold
5th Jul 20177:30 amRNSUpdate on Reverse Takeover
30th Jun 20179:45 amRNSPosting of Annual Report and Accounts
21st Jun 201712:30 pmRNSUpdate re Scheme of Arrangement and Option Payment
26th May 20179:00 amRNSFiling of Scheme of Arrangement & Director Change
2nd May 20177:00 amRNSFinal Results
21st Mar 20179:34 amRNSUpdate on Signature Gold & Bass Funds Received
7th Mar 20179:32 amRNSUpdate re Bass shareholding and proposed RTO
20th Feb 20177:30 amRNSDirectorate Change
2nd Feb 20177:37 amRNSSuspension - Stratmin Global Resources plc
2nd Feb 20177:37 amRNSProposed Acquisition & Suspension from Trading
22nd Dec 201610:20 amRNSReceipt of first payment by Bass Metals Ltd
15th Dec 20167:00 amRNSEarly settlement of outstanding payments from Bass
30th Nov 201611:06 amRNSReverse Takeover and Joint Venture Update
31st Oct 20165:00 pmRNSTotal Voting Rights
17th Oct 20161:00 pmRNSJoint Venture: Environmental Permit Received
5th Oct 20168:58 amRNSJV Funding Initiation and Vatomaina Project Update
3rd Oct 20167:05 amRNSIssue of Equity
30th Sep 20167:00 amRNSHalf-year Report
28th Sep 20167:00 amRNSUSD1.5m loan secured against Bass Metals holding
20th Sep 20167:03 amRNSAppointment of Financial Adviser
19th Sep 20167:00 amRNSDirectorate Changes and Change of Adviser
14th Sep 20168:45 amRNSBass Transaction Completion
2nd Sep 201612:05 pmRNSBass issues 75 Million Shares to StratMin
30th Aug 20169:25 amRNSBass Transaction Settlement
22nd Aug 201610:31 amRNSBass Transaction Update
19th Aug 201610:00 amRNSBass Transaction Update
29th Jul 20163:00 pmRNSResult of AGM and GM
7th Jul 20167:00 amRNSProposed disposal & Notice of GM
30th Jun 20167:01 amRNSNotice of AGM
30th Jun 20167:00 amRNSFinal Results
26th May 20167:00 amRNSBass Transaction Update
1st Apr 20167:00 amRNSProposed disposal of operating subsidiary
4th Mar 201612:21 pmRNS£300,000 private placement
17th Feb 20163:15 pmRNSOperational Update
16th Feb 201612:15 pmRNSBoard Changes
8th Feb 20167:00 amRNSRelated Party Loan Facility
6th Jan 201610:20 amRNSResult of General Meeting
4th Jan 20167:32 amRNSCompletion of £500,000 first tranche funding
24th Dec 201510:39 amRNSBass Metals Ltd Investment Update
18th Dec 20153:45 pmRNSPosting of Circular
7th Dec 20157:00 amRNSOperational Update
4th Dec 20158:03 amRNSBass Transaction Update
23rd Nov 20157:00 amRNSExploration Program Update
18th Nov 20157:01 amRNSBass transaction update
21st Oct 201512:01 pmRNSBass transaction update
9th Oct 201511:19 amRNSSuccessful First Month of 24 Hour Production
1st Oct 201510:54 amRNSBass Transaction Update - Replacement
30th Sep 20157:00 amRNSOption Restructuring & Grant of Warrants & Options

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