Board changes & shareholdings

15 Jul 2005 16:36

Capricorn Resources PLC15 July 2005 Capricorn Resources Plc: Market / AIM / Epic: CIR / Sector: Exploration 15th July 2005 Capricorn Resources Plc Changes in Directors' Shareholdings Capricorn Resources Plc ('Capricorn' or 'the Company') is pleased to announcethat Brian Moritz, a director of Capricorn, has today acquired 8,000,000Ordinary Shares of 0.1p from other directors, comprising 4,000,000 from PhilEdmonds and 4,000,000 from Andrew Groves, at 0.25p per share. As a result of the transfers, Brian Moritz will be interested in 10,000,000Ordinary Shares (15.0%) and Phil Edmonds in 2,500,000 Ordinary Shares (3.8%).Andrew Groves will no longer have an interest in such shares. Following the completion of the transaction, Brian Moritz will become executivechairman in place of Phil Edmonds, who is stepping down from the board withimmediate effect. Andrew Groves will remain on the board. Brian Moritz said: "I am examining a number of possible acquisitions forCapricorn. Following the change in AIM Rules this is likely to comprise areverse takeover. I am determined to bring forward a transaction forshareholder approval as soon as possible." Phil Edmonds said: "We announced in the interim statement that we were in theprocess of evaluating a deal and hoped that we would be in a position to sendout to shareholders a proposal regarding the deal and to update the marketaccordingly. Unfortunately this deal has not crystallized. However, Brianapproached us with the offer and we decided that it would best serve theinterests of the shareholders if he assumed control of Capricorn. Both Andrewand I will continue to support Brian going forward and we look forward tohelping him progress the Company." * * ENDS * * Contact: Brian Moritz Capricorn Resources Plc Tel: 07976 994300Hugo de Salis St Brides Media & Finance Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange