Business
Disposal
Disposal.
About this update from Emmerson Plc
[{"type":"text","content":"\n \nFor Immediate Release: 9 July 2010\n\n EMERGING METALS LIMITED \n\n (\"EML\" or the \"Company\") \n\n Disposal \n\nThe Company is pleased to announce that it has entered into an agreement to\ndispose of its entire holding of 368,721 shares in Extract Resources Limited\n(\"EXT Shares\") to Nippon Uranium Resources (Australia) Proprietary Limited at a\nprice of A$7.00 in cash per EXT Share. The gross proceeds of the sale will be\nA$2,581,047, approximately £1.48 million, which will be available for EML to\napply in accordance with its investing policy approved by shareholders on 16\nApril. The sale is conditional on certain Australian regulatory approvals and\ncompletion is expected to be no later than 17 August 2010.\n\nExtract Resources Limited (\"EXT\") is an ASX listed uranium exploration and\ndevelopment company with significant uranium assets in Namibia, namely the\nHusab uranium project comprising the Rossing South, Ida Dome and Hildenhof\ndeposits and the EXT Shares represent approximately 0.15 per cent. of EXT's\nissued share capital.\n\nENQUIRIES:\n\nEmerging Metals Religare Capital Fox-Davies Capital GTH Communications \nLimited Markets Limited \n Daniel Fox-Davies \nDenham Eke Peter Toby Hall \n Trevelyan-Clark +44 (0) 20 7936 \n+44 (0) 1624 5200 Christian Pickel \n639396 Emily Staples \n +44 (0) 20 3103 3900 \n +44 (0) 20 7444 0800 \n\n\n \n ","length":2018,"tagName":"div"}]