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[{"type":"text","content":"\n RNS Number : 1078W Regency Mines PLC 12 November 2010 \n \n\nRegency Mines PLC\n('Regency', 'Regency Mines' or the 'Company')\nStrategic Investment in Oracle Coalfields PLC\n12 November 2010\nRegency Mines (AIM: RGM), the mining exploration and mineral investment company with interests in nickel and other metals in Western Australia, Queensland, and Papua New Guinea announces that it has entered into an agreement with Oracle Coalfields PLC (\"Oracle\") to subscribe for shares in Oracle and expects thereafter to assist Oracle in the development of its business. \nThe Transaction\nOracle is a company incorporated in England and Wales with 165,711,000 ordinary shares of 0.1 pence par value (\"Oracle Shares\") in issue. Oracle (PLUS: ORCP) is traded on PLUS-Quoted, an unlisted securities Exchange Regulated Market operated in London by PLUS Markets plc, a recognised investment exchange and a Market Operator under the Markets in Financial Instruments Directive (MiFID).\nRegency has agreed to subscribe for 18,500,000 new Oracle Shares (\"New Oracle Shares\") at a price of 5.5 pence for each New Oracle Share (the \"Subscription\"), with the £1,017,500 consideration payable in cash and expected settlement on 24 November 2010. Following the Subscription, Regency will hold approximately 10.04 per cent. of the enlarged issued share capital of Oracle.\nIt is the announced intention of Oracle to seek admission to trading on AIM in the first half of 2011. In consideration of the Subscription, Oracle has agreed that Regency will be given the right, but will have no obligation, to subscribe, at the time of admission to trading on AIM or another recognised market (\"Listing\"), for up to such number of Oracle Shares as, when aggregated with the New Oracle Shares, will constitute 20 per cent. of the issued share capital of Oracle following Listing (the \"Subscription Right\"). The Subscription Right will be exercisable at the price at which Oracle offers stock for subscription by third parties at Listing. \nThe Business and Assets of Oracle\nOracle Coalfields plc, through its 80 per cent. owned subsidiary Sindh Carbon Energy Limited, holds an exploration license over the 66.1 sq km Block VI of the Thar Coalfield in Sindh Province, Pakistan, some 380 km distant from Karachi, as well as other licenses. Block VI is situated...