Weatherly International Plc Regulatory News (WTI)

27 Jun 2007 07:01

Weatherly International PLC27 June 2007 Weatherly International plc ("Weatherly" or the "Company") Issue of Equity The Company announces that it has today issued 16,882,695 new Ordinary Shares of0.5p each ("Ordinary Shares"). The new Ordinary Shares have been admitted totrading on AIM ("Admission") and dealings commenced today. The new OrdinaryShares have been issued to Canadian-quoted miner Dundee Precious Metals Inc., inaccordance with the terms of the transaction announced by the Company on 6 June2007. As a result of the issue of the new Ordinary Shares, the issued share capitalnow comprises 356,646,567 Ordinary Shares. The total number of voting rights as at 27 June 2007 is 356,646,567. There areno shares in treasury and there is no other class of share in issue which hasvoting rights. This figure may be used by shareholders as the denominator forthe calculations by which they will determine if they are required to notifytheir interest in, or a change to their interest in the Company, under the FSA'sDisclosure and Transparency Rules. For further information contact: John Norris, Weatherly International plc: +44 (0) 20 7917 2989 +44 (0) 7929 778 251 Jonathon Flory / Stephen Pickup, Libertas Capital: +44 (0) 20 7569 9650 Allan Piper, First City Financial Public Relations: +44 (0) 20 7242 2666 Background details follow: Weatherly International plc arrived on AIM at 3p per in June 2005. Following the acquisition of 97% of Namibia's Ongopolo Mining & processing Ltd in October 2006,it is now positioned as a fully integrated mining group owning mining exploration and production assets and one of only four copper smelters in Southern Africa. The company is currently producing copper from mines in the Tsumeb area of Northern Namibia and at Otjihase and Matchless around the Namibian capital, Windhoek. Weatherly is also continuing work at its Kombat West mine, where it is dewatering underground workings. The smelter at Tsumeb in Northern Namibia, owned by Weatherly's subsidiary Namibian Custom Smelters, is processing material from Weatherly's own mines withadditional throughput from tolling agreements and third party sales. The first of three furnaces is currently operational, at an annualised rate of approximately 24,000 tonnes of blister copper. Work has commenced on expanding the capacity of the facility to 50,000 tonnes of blister copper with the re-commissioning of the second furnace. END This information is provided by RNS The company news service from the London Stock Exchange