Business
Issue of Shares
Issue of Shares.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1807E Ferrex PLC 08 May 2013 \n \n\nFerrex plc / Index: AIM / Epic: FRX / Sector: Mining\n8 May 2013\nFerrex plc ('Ferrex' or 'the Company')\nIssue of Shares\n \nFerrex plc, the AIM quoted iron ore and manganese development company focused in Africa, announces that pursuant to the agreement announced on 14 January 2013 ('the Agreement') regarding the Company being granted the 309 sq km Megaba iron project in Gabon in West Africa ('Mebaga'), Ferrex has agreed to purchase an additional 17% of Ressources Equatoriales SARL ('Equatorial'), from minority shareholders for 40 million new Ordinary Shares of 0.5p each in the Company ('the Consideration Shares'), bringing its interest in Megaba to 82%.\n \nUnder the terms of the Agreement, 40 million new Ordinary Shares will be issued at a price of 2.5 pence per share. Application has been made to the London Stock Exchange for the Consideration Shares to be admitted to trading on AIM ('Admission') and it is expected that Admission will occur, and dealings in the Consideration Shares will commence, on 10 May 2013. The Consideration Shares will, when issued, rank pari passu in all respects with the existing issued Ordinary Shares.\n \nFollowing Admission, the Consideration Shares will represent 4.97% of the enlarged issued Ordinary Share capital of Ferrex, which will then comprise 805,179,963 Ordinary Shares, with each Ordinary Share carrying the right to cast one vote. \n \nThe number of Ordinary Shares quoted above may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company. \n \n**ENDS**\n \nFor further information and the full Admission document visit www.ferrexplc.com or contact the following:\n \n\n\n\n\nDave Reeves\n\n\nFerrex plc\n\n\n+ 61 (0) 420 372 740\n\n\n\n\nFelicity Edwards/ Elisabeth Cowell\n\n\nSt Brides Media and Finance Ltd\n\n\n+44 (0) 20 7236 1177\n\n\n\n\nElizabeth Johnson / Joanna Weaving\n\n\nfinncap (Broking)\n\n\n+44 (0)20 7220 0500\n\n\n\n\nMatthew Robinson / Ben Thompson\n\n\nFinncap (Corporate Finance)\n\n\n+44 (0)20 7220 0500\n\n\n\n\n \nNotes\n \nFerrex plc is an AIM quoted, leading iron-ore and manganese exploratio...