Issue of Equity

30 May 2006 07:01

Pan Pacific Aggregates PLC30 May 2006 30 May 2006 Pan Pacific Aggregates Plc Issue of equity The Board of Pan Pacific Aggregates plc ("PPA" or the "Company") is pleased toannounce that, pursuant to the subscription agreement entered into on 12December 2005 between the Company and RAB Special Situations (Master) FundLimited ("RAB"), RAB agreed on 26 May 2006 to subscribe for 575,000 OrdinaryShares at 80p per share, amounting to in aggregate £460,000. Following the issueof these new Ordinary Shares, RAB will be interested in 13,226,750 OrdinaryShares representing 20.6% of the issued share capital of the Company. Application has been made for the admission of the new Ordinary Shares totrading on the AIM Market of the London Stock Exchange plc and dealings areexpected to commence on 2 June 2006. The capital raised will provide the Company with additional funds for theworking capital requirements based on phase II of exploration and projectdevelopment. These incorporate further resource definition, environmental andLarge Producer permits for the Northern Sechelt Carbonate Project and a bankablefeasibility study. Enquiries to: William Voaden, Non-Executive Director 020 7628 3989 This information is provided by RNS The company news service from the London Stock Exchange