Business
Proposed Acquisition and Suspension of Listing
Proposed Acquisition and Suspension of Listing.
About this update from Cobra Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0951S Cobra Resources PLC 07 March 2019 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY NEWS SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\nFor immediate release \n7 March 2019\n \nCobra Resources plc\n \n(\"Cobra\" or the \"Company\")\n \nProposed Acquisition of Lady Alice Mines and Suspension of Listing\nCobra, a company formed to make acquisitions of tenements and projects in the natural resources sector, today announces that is has signed an acquisition agreement (the \"Acquisition Agreement\") to acquire 100% of the units in the Lady Alice Trust and the entire issued share capital of Lady Alice Mines Pty Ltd, as trustee of the Lady Alice Trust (the \"Proposed Acquisition\"). \nThe Lady Alice Trust is the sole owner of:\n- 100% of right title and interest in South Australian Exploration Licence Number 6016 (the \"Prince Alfred Licence\") a formerly producing copper mine (the \"Prince Alfred Mine\"); and\n- an entitlement to earn a 75% equity interest in 5 large tenements near Wudinna in South Australia (the \"Wudinna Project\") for gold exploration, under the terms of an agreement (the \"Wudinna Agreement\") with Andromeda Metals Limited (\"Andromeda\"), a company listed on the Australian Securities Exchange, and Peninsula Resources Limited. \nAdditional details on the Wudinna Agreement in relation to the Wudinna Project can be found on Andromeda's web site: \nhttp://www.andromet.com.au/images/uploads/reports/20171031Eyre_Peninsula_JV.pdf\n\nAs the Proposed Acquisition will constitute a reverse takeover for the purposes of the FCA's Listing Rules, in accordance with Listing Rule 5.1, the Company has requested that the Company's Ordinary Shares be suspended from listing on the Official List pending the publication of a prospectus, which will follow completion, or until the Company confirms that the ...