Anglo Pacific Group PLC
23 August 2007
Anglo Pacific Group PLC
Acquisition of Advance Royalty Corporation and Uranium Royalties
Anglo Pacific Group plc ('the Company') announces that, effective 22nd August
2007, it has acquired Advance Royalty Corporation, a private Canadian company.
Advance Royalty Corporation owns royalty interests with respect to certain
mineral resource properties located in the Athabasca Basin of Saskatchewan,
Canada. The Athabasca Basin is considered to be highly prospective for uranium
exploration and production and currently hosts large, high grade uranium mines
and deposits.
The properties covered by the royalty interests total approximately 4.8 million
acres and are currently operated by a number of listed Canadian companies
including ESO Uranium Corp, Titan Uranium Exploration Inc., Magnum Uranium
Corp., Ditem Explorations Inc., Terra Ventures Inc. and Bayswater Ventures Corp.
As consideration for the acquisition, the Company has allotted 3,125,000
Ordinary Shares of 2p each in the Company. These shares rank pari passu in all
respects with the existing issued ordinary shares in the Company. Half the
shares allotted under the acquisition are subject to an escrow period of 4
months and the remaining shares are subject to an escrow period of 12 months.
At close of business 21 August 2007, shares in Anglo Pacific Group plc were
priced at 139p, valuing the total acquisition consideration at £4,343,750.
Application will be made to the UK Listing Authority and to the London Stock
Exchange for these shares to be admitted to the Official List and to trading on
the London Stock Exchange's Main Market for listed securities and it is expected
that dealings will commence on 31st August 2007.
For further information:
Australian contact: Ms Janis Nugawela +61 (0) 8 9284 3255
UK contact: Mr Matthew Tack +44 (0) 20 7318 6360
Investor relations: Mr Stephen Scott +44 (0) 20 7653 0030
Website: www.anglopacificgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange