First Day of Dealings on PLUS

RNS Number : 5902F

Rare Minerals PLC

28 April 2011

 



Rare Minerals Plc

First Day of Dealings on PLUS

Rare Minerals Plc (PLUS: RM.P) (the "Company") announces the commencement of dealings today following the successful Placing of 250,000,000 Ordinary GBP 0.0001 shares at GBP 0.003 per share.

The Company has applied to admit its entire issued share capital.

Prior to admission the Company had 1,650,000,000 Ordinary shares of GBP 0.0001 each in issue. Immediately following admission the Company issued:-

·    250,000,000 Ordinary shares of GBP 0.0001 each at GBP 0.001 each pursuant to a subscription, conditional on admission, for cash consideration of £250,000,

·    a further 250,000,000 Ordinary shares of GBP 0.0001 each at GBP 0.003 each pursuant to the Placing to raise a total of £750,000 before expenses.

The Company now has 2,150,000,000 Ordinary shares of GBP 0.0001 each in issue.

Following the Placing, the Company has approximately £1.1 million cash or cash equivalents which will be used for investment in the mining sector. The Directors have identified a number of potential investment opportunities and they will keep investors informed of developments.

28 April 2011

Enquiries:

Rare Minerals Plc Nicholas Nelson, Executive Chairman	07921 522920
PLUS Adviser Alfred Henry Corporate Finance Jon Isaacs	020 7251 3762
Stockbroker Zeus Capital Ross Andrews	0161 831 1512

The Directors accept responsibility for this statement.

 

END

 

 

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