24 Apr 2008 15:12
FOR IMMEDIATE RELEASE 24 April 2008
Sirius Exploration Plc ("Sirius Exploration" or the "Company") Issue of Shares
Sirius Exploration Plc has entered into a ‚£300,000 equity credit facility agreement with Duke Holdings Corporation Limited ("Duke") to provide a drawdown of monies in exchange for shares in the Company (the "Facility").
In accordance with the terms of the Facility and pursuant to a drawdown notice from the Company issued in April 2008, Duke has now subscribed for 3,075,292 new ordinary shares at 1.6259p per share. This will provide the Company with ‚£ 50,000, before expenses.
The 3,075,292 new ordinary shares, which will represent 3.54 per cent of the enlarged issued share capital of the Company (86,755,710 ordinary shares), will rank pari passu in all respects with the existing ordinary shares in the Company.
Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM and dealings in the new ordinary shares are expected to commence on 30 April 2008.
A copy of this announcement is available on the Company's website: www.siriusexploration.com
Contact:
Richard Poulden, Sirius Exploration Plc on 01453 511900 or 07769 721512
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396.
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