Resources Investment Trust PLC
17 April 2002
RESOURCES INVESTMENT TRUST PLC
Issue of Ordinary Shares
Resources Investment Trust PLC (the 'Company') announces that, on 10 April 2002,
it entered into a conditional agreement to allot and issue 458,131 ordinary
shares of 5p each in the capital of the Company ('Ordinary Shares') to S P Angel
(Nominees) Limited at an effective issue price of 124.87p per share (the
unaudited net asset value per share as at the close of business on 8 April 2002)
for a consideration of £572,068 to be satisfied by the transfer to the Company
of 16,344,827 ordinary shares of 1p each in Greenchip Investments plc
('Greenchip') at an effective price of 3.5p per share.
Greenchip, whose ordinary shares are traded on the Alternative Investment Market
of the London Stock Exchange, is a research platform for the exploitation of
polymers as degradable materials. The audited accounts of Greenchip for the 18
months ended 31 December 2000 showed a loss on ordinary activities before and
after taxation for the period of £3.090 million (including a loss on disposal of
investment of £1.365 million) and net assets at 31 December 2000 of £1.579
million. Following completion of this transaction, the Company will be
interested in 16,344,827 shares, representing approximately 12.08% of the issued
ordinary share capital of Greenchip.
Following this allotment, the issued share capital of the Company will comprise
18,399,189 Ordinary Shares. The new Ordinary Shares will rank pari passu in all
respects with all other Ordinary Shares in issue.
Application is being made for the new Ordinary Shares to be admitted to the
Official List and to dealings on the London Stock Exchange's market for listed
securities and it is expected that such admission will become effective and such
dealings will commence on 22 April 2002.
Copies of this document will be available for inspection at the Document Viewing
Facility of the UK Listing Authority and, until 7 May 2002, may be obtained,
free of charge, from the registered office of the Company, Bourne House, 34
Beckenham Road, Beckenham, Kent BR3 4TU.
17 April 2002
This information is provided by RNS
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