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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
29th Sep 20159:30 amRNSUnaudited Half Year Results
18th Sep 201511:37 amRNSBass Metals Ltd Investment Update
7th Sep 20157:00 amRNSIssue of Shares
2nd Sep 20157:00 amRNS£2 Million Investment from ASX listed Bass Metals
3rd Aug 20151:25 pmRNSOptimisation and Increased Production at Loharano
7th Jul 20151:22 pmRNSCompletion of £625,000 Placing
2nd Jul 201511:51 amRNSCommercial update on graphite sales
18th Jun 20157:00 amRNSStrategic Partnership
18th Jun 20157:00 amRNSCompletion of Preliminary Scoping Report
18th Jun 20157:00 amRNSAppointment of Company Secretary
16th Jun 201510:15 amRNSResult of AGM
26th May 20157:01 amRNSAppointment of Chief Executive Officer
22nd May 20154:00 pmRNSNotice of AGM
22nd May 20157:00 amRNSFinal Results for the Year to 31 December 2014
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13th Apr 20157:00 amRNSProduction and Sales Update
20th Mar 20153:28 pmRNSAppointment of Broker
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29th Oct 201412:47 pmRNSCompletion of £800,000 Placing
23rd Oct 201410:00 amRNSFurther Graphite Mineralisation at Loharano
21st Oct 201410:00 amRNSOff-take Agreement Signed
29th Sep 20147:00 amRNSUnaudited Half Year Results
31st Jul 20147:00 amRNSSecond Sales Contract and Warrant Re-Pricing
17th Jul 20147:00 amRNSPositive Exploration Results
9th Jul 201410:30 amRNSResult of AGM
3rd Jul 20147:00 amRNSFirst Sales Contract and Q2 Production Update
11th Jun 20147:00 amRNSFinal Results for the Year to 31 December 2013
6th May 20147:01 amRNSProduction Update
14th Apr 20147:00 amRNSCommencement of Commercial Production
7th Apr 20147:00 amRNSRepayment of Darwin Convertible Loan Instrument
31st Mar 201410:53 amRNSIssue of Shares
28th Mar 201410:14 amRNSResult of General Meeting
27th Mar 20147:00 amRNSOperational Update
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12th Mar 201412:03 pmRNSGrant of Options
12th Mar 201412:02 pmRNSCompletion of £2.5 million placing
12th Mar 201412:01 pmRNSAppointment of New Non-Executive Chairman
12th Mar 201412:00 pmRNSChange of Advisers
7th Mar 20147:00 amRNSMechProTech Scrubber Installed
17th Feb 20147:00 amRNSOperational Update
7th Feb 20145:20 pmRNSDirector Dealing
20th Dec 201312:48 pmRNSTotal Voting Rights
12th Dec 20137:00 amRNSOperational Update
9th Dec 201312:48 pmRNSIssue of Shares

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