Business
Capital Metals Transaction Update & Board Changes
Capital Metals Transaction Update & Board Changes.
About this update from Mila Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3559T Mila Resources PLC 19 March 2019 \n\nMila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources\n19 March 2019\nMila Resources Plc \n(\"Mila Resources\" or \"the Company\")\nUpdate on Capital Metals Limited Transaction and Board Changes\n \nMila Resources, a London Stock Exchange listed natural resource focused company, announces an update on the negotiations regarding the acquisitions of 100% of the share capital of Capital Metals Limited (\"CML\"). Unfortunately, agreement between the two parties has not materialised, resulting in negotiations being terminated by mutual consent. \n \nFollowing the termination of talks with CML, Mr George Donne and Mr Anthony Eastman, both Executive Directors of Mila Resources, have informed the Company of their intention to step down from the Board with immediate effect. The Company would like to thank them for their hard work since the establishment of Mila Resources in 2015.\n \nA search for a replacement has commenced and a further announcement will be made in due course.\n \nMila Resources maintains a healthy cash position and has agreed for certain due diligence costs, incurred during the intended transaction with CML, to be reimbursed by CML upon a listing of CML. The Company will now look for a new transaction with the intention of identifying a suitable opportunity in the near term. The Company would like to thank shareholders for their patience and looks forward to updating them in due course upon the identification of a suitable transaction. \n \n \n**ENDS**\n \nFor more information visit www.milaresources.com or contact:\n \n\n\n\nMark Stephenson\n\n\nMila Resources Plc\n\n\n+44 (0) 20 7236 1177\n\n\n\n\nBeth Melluish\n \n\n\nSt Brides Partners Ltd \n\n\n+44 (0) 20 7236 1177 \n\n\n\n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END MSCGMGMFNLGGLZM\n ","length":4385,"tagName":"div"}]