29 May 2013 16:09
Polemos plc
(the "Company")
Investing Policy Update
The Company announces that it has now substantially implemented its investing policy and has satisfied the requirements of Rule 15 of the AIM Rules for Companies ("Rule 15").
Following the disposal of the Company's operating subsidiary, PLUS Stock Exchange plc, on 21 June 2012, the Company became an investing company under Rule 15. Consequently, the Company was obliged to have made an acquisition that constituted a reverse takeover or otherwise have substantially implemented its investing policy within 12 months from that date.
The Company recently made cash investments in the following quoted Oil & Gas companies, which the Company believes have scope for capital growth and potential dividend returns:
Company | Number of Shares Purchased | Price per Share |
Tullow Oil plc | 35,000 | £10.44 |
Ophir Energy plc | 40,000 | £4.10 |
Pura Vida Energy NL | 250,000 | AU$0.39 |
Including commission, dealing fees and stamp duty, the aggregate consideration of these investments is approximately £0.6m.
The Company is continuing to review a number of other investment opportunities in accordance with its investing policy and further announcements will be made as appropriate.
Please visit the Company's website, www.polemos.co.uk, for further information.
Enquiries:
Polemos plc +44 20 7440 0640
Donald Strang
N+1 Singer (Nominated Adviser and Broker) +44 20 7496 3000
Aubrey Powell / Alex Wright
Digitalbox (DBOX)