Business
Mambare update, director dealing, options
Mambare update, director dealing, options.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 3128J Regency Mines PLC 29 June 2011 \n \n\nREGENCY MINES PLC\nUpdate on Mambare joint venture\nDealings by Directors; exercise of options\n \n29 June 2011\n \nMambare joint venture\n \nRegency Mines (\"Regency Mines\" or the \"Company\"), the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan, reports on the Joint Venture between Direct Nickel Pty Ltd (\"DNi\") and Regency (the \"JV\").\nExploration proceeds at Mambare, the JV property in Papua New Guinea, despite a short delay to drilling as previously announced. Good work has progressed on site however, with the ground penetrating radar (GPR) survey moving ahead, infill line cutting and compensation completed, and site security maintained during the recent civil unrest in Oro Province arising from riots in Popondetta which resulted in temporary road blocks between Popondetta and Kokoda. These disturbances did not result in any damage to company employees or assets.\n \nDealings by directors\n \nThe Company has been informed that Andrew Bell, Chairman, has on 27 and 28 June sold a total 800,000 ordinary shares of 0.1p each in the capital of the Company (\"Ordinary Shares\") at a price of 3.1 pence per share. Following the sale, Mr Bell remains directly interested in 1,800,002 Ordinary Shares and indirectly in a further 39,994,280 Ordinary Shares, respectively representing approximately 0.29 per cent. and 6.54 per cent. of the Company's issued ordinary share capital as enlarged by the option exercise referred to below.\n \nOption exercise\n \nThe Company further announces that options have been exercised to subscribe for 475,000 ordinary shares of 0.1p each in the capital of the Company (\"Ordinary Shares\") at a price of 1.25 pence per share.\n \nApplication has been made for the new Ordinary Shares, which rank pari passu with the Company's existing issued ordinary share capital, to be admitted to trading on AIM and it is expected that the admission will occur on 4 July 2011.\n \nFollowing the issue and allotment of the new Ordinary Shares, the Company will have 611,951,585 ordinary shares in issue.\n \n \nEnquiries:\n\n\n\n\nAndrew Bell\n\n\n0207 402 4580 or\n07766 474849\n \n\n\nRe...