White Nile Limited
10 February 2005
10 February 2004
White Nile Ltd ('White Nile' or 'the Company')
Start of trading on AIM
The Directors of White Nile Ltd are pleased to announce the Company's admission
on to the London Stock Exchange's AIM Market. White Nile Ltd is a newly
incorporated company established to identify and acquire projects in the natural
resources sector with particular emphasis on oil projects within Africa.
The Directors intend acquiring such projects either through majority or minority
stakes or through joint ventures. It is expected that most opportunities will
require dedicated funding to take them forward. The Company intends to actively
participate in development of the projects in which it invests either itself or
through joint venture arrangements. To finance the Company in its early stages,
prior to admission White Nile raised £9,000,000 from institutions and private
investors.
At present the Directors have identified several opportunities but no firm
commitment has been entered into by the Company. In particular, White Nile is
negotiating with the new Government of South Sudan re certain oil concessions in
the newly recognised autonomous state, established following the Sudan peace
accord announced on 9 January 2005. The Directors are optimistic that these
negotiations will come to fruition shortly.
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Issued on behalf of White Nile Ltd by St Brides Media & Finance Ltd, 46 Bedford
Row, London WC1R 4LR.
Contacts:
Phil Edmonds White Nile Ltd Tel: 0845 108 6060
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477
This information is provided by RNS
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