Business
Sudan Update and Issue of Equity
Sudan Update and Issue of Equity.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 8619V Regency Mines PLC 18 December 2013 \n \n\nRegency Mines Plc\n(\"Regency\" or the \"Company\")\nSudan Update and Issue of Equity \n18 December 2013\nRegency Mines, the mining exploration and mineral investment company with interests in nickel and other minerals in Australia, Papua New Guinea announces an update on its agromineral exploration in Sudan, a project where Regency has farm-in rights under an option agreement with International Mineral Resources (Agrominerals Sudan) Ltd (\"IMRAS\"). \n \nUnder the terms of the amended farm-in agreement announced on 16 August 2012, and following the revision to the concession area, as referred to in the announcement of 12 April 2013 and of 13 August 2013, the parties have agreed that sufficient progress has been made in fulfilment of outstanding obligations relating to license rights and the ability to progress to mining licenses for a second payment to be made to IMRAS.\n \nAccordingly, 18,000,000 new Regency shares of 1 pence each (\"Ordinary Shares\")have been issued to IMRAS at a deemed issue price of 0.52 pence per share.\n \nSimultaneously the Company will issue an additional 2,000,000 Ordinary Shares at a price of 0.52 pence to certain vendors in satisfaction of outstanding obligations. \n \nFollowing the issue of Shares, the Company's total issued ordinary share capital will be 1,211,049,883 Ordinary Shares. Application has been made to the London Stock Exchange for the new Shares and Fee Shares, which rank pari passu with the Company's existing issued Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 24 December 2013.\n \n \nEnquiries:\n\n\n\n\nAndrew Bell 020 7747 9960 or 07766 474849\n\n\nChairman Regency Mines plc\n\n\n\n\nColin Aaronson/David Hignell 020 7383 5100 \n\n\nNOMAD Grant Thornton UK LLP\n\n\n\n\nNick Emerson 01483 413500\nGuy Wheatley 02073828416\nRupert Trefgarne 02031288817\n\n\nBroker SI Capital Ltd\nJoint Broker Beaufort Securities Ltd\nMedia Relations MHP Communications\n\n\n\n\n\n\n\n\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCEAFAPFDLDFFF\n ","length":4599,"tagName":"div"}]