Issue of Equity

RNS Number : 9886S

Regency Mines PLC

20 September 2010

 

Regency Mines PLC

('Regency' or the 'Company')

Issue of Equity

20 September 2010

Regency Mines, the mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea announces that it has placed 59,000,000 ordinary shares of 0.1 pence each ('Ordinary Shares') in the Company at a price of 1.1 pence per Ordinary Share (the 'Placing'), for a subscription amount of £649,000 before expenses. The proceeds of the Placing will be applied towards general working capital purposes.

Application has been made to the London Stock Exchange for the new Ordinary Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. It is expected that admission will become effective and that trading will commence on 24 September 2010.

Red Rock Resources plc, a company of which Andrew Bell and John Watkins are directors, has agreed to subscribe for 12,500,000 Shares at 1.1 pence per Share. Following the subscription, Red Rock Resources plc will be interested in 17,900,000 ordinary shares, which is approximately 3.68% of the issued share capital of the Company as enlarged by the Placing.

Following the issue of the new Ordinary Shares the Company's issued ordinary share capital, as enlarged by the Placing, will be 486,881,777 Ordinary Shares.

 

 

For further information contact:

 

Regency Mines PLC Andrew Bell, Chairman 0207 402 4580

Sandra Spencer, Public and

Investor Relations 0207 402 4580

 

Nominated Adviser

Religare Capital Markets Peter Trevelyan-Clark/Ben Jeynes 020 7444 0800

 

Broker

Simple Investments Ltd Nick Emerson/Renato Rufus 01483 413500

 

This information is provided by RNS

The company news service from the London Stock Exchange