Share Issue

RNS Number : 1653Y

Ferrex PLC

27 February 2012

 



27 February 2012

Ferrex plc ('Ferrex' or 'the Company')

Share Issue

Ferrex plc, the AIM quoted iron ore and manganese development company focused in Africa, announces that application has been made for the admission to trading on AIM for a total of 2,766,667 ordinary shares of 0.5 pence per share ("Ordinary Shares") with admission expected to take place on 2 March 2012.

266,667 Ordinary Shares have been issued at a price of 3 pence per share in consideration of an amount owed to a supplier.

2,500,000 Ordinary Shares have been issued at a price of 4 pence per share in consideration of an introducer's fee payable to Mr. Mohammed Munkailah in connection with the acquisition of the Togo manganese project which was announced on 14 November 2011.

Following the admission of the 2,766,667 new Ordinary Shares to trading, Ferrex has 588,978,574 Ordinary Shares, with voting rights, admitted to trading on AIM.

**ENDS**

For further information please visit www.ferrexplc.com or contact the following:

Dave Reeves	Ferrex plc	+ 61 (0) 420 372 740
Russell Lamming	Ferrex plc	+ 44 (0) 781 0870 587
Colin Aaronson/ David Hignell	Grant Thornton Corporate Finance	[phone]
John Prior / Sebastian Jones	Collins Stewart Europe Limited	[phone]
Felicity Edwards	St Brides Media and Finance Ltd	[phone]

Notes

Ferrex plc is an AIM quoted exploration and development company focused on advancing low capex iron ore and manganese projects in Africa through the development cycle and into production.  Our current property portfolio comprises iron ore (Malelane) and manganese (Leinster) projects in South Africa and a manganese project (Changara) in Mozambique, all of which offer the potential for significant near-term value uplift.

The Company's growth strategy is centred on advancing its current assets, utilising its Board and management team's considerable experience in developing resource projects across Africa and expanding its portfolio through acquisitions to build Ferrex into a mid-tier, low-cost producer of iron ore and manganese.

 

END

 

 

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