Escrow Shares Update

RNS Number : 5806E

Niger Uranium Limited

22 December 2009

 



For immediate release

22 December 2009

Niger Uranium Limited

("Niger Uranium" or the "Company")

Escrow Shares Update

On 8 October 2009, the Company announced that the share purchase agreement under which Niger Uranium had agreed, subject to the satisfaction of certain conditions precedent, to acquire URU Henkries had lapsed and that the acquisition had terminated. In accordance with the sale and purchase agreement, as the transaction did not complete, on 30 October 2009 the Board announced that it was arranging for the buyback for a nominal amount and cancellation of the 8,500,000 Escrow Shares in accordance with BVI law. 

The Board announces that it has today completed the cancellation of the Escrow Shares which will be subsequently cancelled from trading on AIM.

Following this cancellation, the issued share capital of the Company will amount to 113,210,056 Ordinary Shares.

EnquiriesNiger Uranium Limited

David Weill, Chairman               

Tel: [phone]

Nominated Adviser                

Beaumont Cornish Limited

Michael Cornish 

Tel: [phone]

Definitions

"Escrow Shares"	8,500,000 million Ordinary Shares, issued and allotted to the Henkries escrow agent which as announced on 30 October 2009 were to be transferred to the Company's broker to hold pending cancellation by the Company;
"Henkries Acquisition"	the proposed acquisition by the Company of the Namakwa Interest from Aardvark Uranium Limited under the terms of the conditional sale and purchase agreement between the Company and Aardvark Uranium Limited dated 29 August 2008 which was terminated on 8 October 2009;

ENDS

 

END

 

 

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