03 March 2003
For Immediate Release 3 March 2003
Disposal of Investment: Just Car Clinics
Investment update: Strongbow Resources Inc.
Resurge PLC ('Resurge') is pleased to announce the disposal of its entire 11.8%
holding, representing 1,325,000 ordinary shares in Just Car Clinics PLC
(formerly Bikenet PLC) for a net consideration of £130,000.
Resurge acquired its holding in Bikenet PLC for £53,528 in June 2002 which was
subsequently acquired by Just Car Clinics PLC in January 2003. The surplus on
disposal amounts to £76,472.
Resurge is also pleased to announce that it has acquired 3,660,000 Ordinary
shares in Strongbow Resources Inc ('Strongbow') at Canadian Cents 14.75 each,
for £229,000 and has been granted 1,830,000 Warrants at Canadian Cents 40.00
each. Strongbow is a Canadian listed natural resources company formed out of an
asset restructuring by Gren Thomas, the founder of Aber Diamonds Inc. The value
of each Ordinary share in Strongbow at close of business on 28 February 2003 was
Jonathan Rowland, commenting on the disposal of its holding in Just Car Clinics
'We continue to look for a rapid return on our investments for our shareholders
and the disposal of our holding in Just Car Clinics demonstrates this. We are
delighted that this investment has produced such an excellent return.'
For further information:
Resurge PLC 020 7233 4270
Richard Darby, Bobbie Swanson
Buchanan Communications 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange