Sudan update and Issue of Equity

RNS Number : 5306L

Regency Mines PLC

13 August 2013

 



Regency Mines Plc

("Regency" or the "Company")

Update on Sudan Joint Venture

Issue of Equity

Change of name of broker

13 August 2013

Regency Mines plc, ("Regency" or "the Company"), the mining exploration and mineral investment company with interests in nickel and other minerals in Australia and Papua New Guinea is pleased to announce an update on its agromineral exploration in Sudan, a project where Regency has farm-in rights under an option agreement with International Mineral Resources (Agrominerals Sudan) Ltd ("IMRAS").

Under the terms of the amended farm-in agreement announced on 16 August 2012, and following the revision to the concession area, as referred to in the announcement of 12 April 2013, the parties have agreed that sufficient progress has been made in fulfilment of the grant of additional license rights for a first payment to be made to IMRAS.

Accordingly, 10,000,000 new Regency shares have been issued to IMRAS at a deemed issue price of 0.52 pence per share.

Following the issue of Shares, the Company's total issued ordinary share capital will be 1,116,049,883 ordinary shares. Application has been made to the London Stock Exchange for the new Shares and Fee Shares, which rank pari passu with the Company's existing issued Shares, to be admitted to trading on AIM.  Dealings are expected to commence at 8.00 a.m. on 16 August 2013.

The Company also announces that its broker's name has been changed to SI Capital Limited

For further information contact:

Andrew Bell 0207 747 9990  or 07766 474849	Chairman Regency Mines plc
Sandra Spencer 0207 747 9990 or 07757 660 798	Investor Relations Regency Mines plc
Colin Aaronson / David Hignell 020 7383 5100	NOMAD Grant Thornton UK LLP
Nick Emerson 01483 413500	Broker SI Capital Limited

 

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