Exercise of Broker Warrants

RNS Number : 2149T

Stellar Resources PLC

01 October 2014

 



1 October 2014

Stellar Resources Plc

("Stellar Resources" or the "Company")

Exercise of Broker Warrants

Stellar Resources Plc (AIM: STG) announces that it has received a notice of exercise of broker warrants from Optiva Securities Limited ("Optiva") to subscribe for 13,000,000 new ordinary shares in the Company (the "New Ordinary Shares"). The exercise price of the warrants is 0.4 pence. They were previously issued and announced in connection with a placement on 29 October 2013. Optiva continue to hold 11,075,000 warrants at an exercise price of 0.4 pence which expire on 20 November 2018.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company and Admission is expected to commence on 7 October 2014.

Following Admission, the Company's enlarged issued share capital will comprise 749,548,935 ordinary shares. The Company holds 232 ordinary shares as treasury shares. Therefore, the total number of voting rights in the Company will be 749,548,703. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

-ENDS-

For further information, please contact:

Enquiries:

Stellar Resources plc David Lenigas, Executive Chairman Donald Strang, Finance Director	[phone]
Cairn Financial Advisers LLP James Caithie / Paul Trendell Public Relations: Square 1 Consulting Ltd David Bick / Mark Longson	[phone] [phone]

 

END

 

 

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