Business
Disposal of UrAmerica PLC and Appoints Auditors
Disposal of UrAmerica PLC and Appoints Auditors.
About this update from Uru Metals Limited
[{"type":"text","content":"\n \nRNS Number : 6364B URU Metals Limited 05 April 2013 \n \n\n \nFor immediate release\n \n5 April, 2013\n \nURU Metals Limited\n \n(\"URU\" or \"the Company\")\n \nSale of UrAmerica Plc Assets and Appointment of New Auditor\n \nThe Board of Directors of URU Metals (AIM:URU) today announces the sale of the Company's entire share holdings of UrAmerica Plc. (\"UrAmerica\") for a purchase price of £200,000. The purchaser was Huntress (CI) Nominees Limited.\n \nThe Company held 4,421,000 shares of UrAmerica, a private company exploring for uranium in Argentina. The Company's shareholding, purchased in 2008, represented approximately a 7.36% equity interest in UrAmerica. \n\nAs a result of this transaction, the Company will cease to be a shareholder in UrAmerica.\n \nCommenting on the disposal of its stake in UrAmerica, Roger Lemaitre, CEO of URU Metals said:\n \n\"Our holding in UrAmerica was no longer a core part of our portfolio, hence our disposal. The monies received will go towards our drilling programme at Nueltin, Canada a quality project which we believe will return value to shareholders in the medium to long term. We remain opportunistic in our approach to investing in other assets, a strategy that has paid dividend so far.\"\n \nIn addition, following the closure of its Johannesburg office, the Directors are pleased to announce the appointment of Price Waterhouse Coopers as the Auditor of the Company, with immediate effect.\n \nThe Company would like to thank KPMG Johannesburg for the quality of the work they completed, and their professionalism and competence since being selected as URU's Auditor.\n \nFor Further Information\n \n\n\n\n\nURU Metals Limited\n\n\n+1 416 892 2870\n\n\n\n\nRoger Lemaitre, CEO\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland Limited\n\n\n+44 207 220 1666\n\n\n\n\nAdrian Hadden\n\n\n\n\n\n\n\nJames Bavister\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRibeiro Communications\n\n\n+44 7980 321 505\n\n\n\n\nAna Ribeiro\n\n\n\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCVZLFBXZFLBBZ\n ","length":4822,"tagName":"div"}]