Ovoca Resources PLC
8 June 2001
Ovoca Resources PLC
York House
Rear 176 Rathgar Road
Dublin 6
Phone + 353 1 491 2944
Fax + 353 1 491 2945
Ovoca Resources PLC ('Ovoca' or 'the Group')
Ovoca announces that it has placed 1,500,000 new Ordinary shares of IR2p each
at a price of Euro0.26 per share to raise Euro 390,000 (IR£307,150) before
expenses. Following the Placing the total number of IR2p Ordinary Shares in
issue will be 29,083,145.
The new Ordinary Shares are being placed with Mercury Holdings plc, as part of
their ongoing investment stategy. Mercury Engineering, part of the Mercury
Group of companies, are the leader in the building services sector in Ireland.
It is intended there will be discussions between Ovoca and Mercury Holdings
plc to explore areas of mutual interest which it is hoped may lead to future
business opportunities.
The proceeds of the placing, net of expenses, will be used in the Group's
ongoing exploration activities and not for any other development arrangements
which may arise from the Group's discussions with Mercury Holdings plc.
Application has been made to the Irish Stock Exchange for permission for the
new Ordinary Shares to be dealt on the Exploration Securities Market of The
Irish Stock Exchange.
Copies of this brochure are available from the Companies Office for two
business days from this date and from the Registered Office of Ovoca Resources
PLC .
For Further Information please contact:-
Mr Brendan Murphy
Fleishman Hillard Saunders,
Tel:- 01 618 8444
Mr Peter O'Carroll
Bloxhams Stockbrokers
Tel:- 01 611 9200
Mr. John O'Connor
Ovoca Resources PLC
Tel:- 01 491 2944
8th June 2001