INVESTMENT UPDATE, ISSUE OF EQUITY AND PLACING

RNS Number : 9503C

CEB Resources PLC

21 March 2014

 



21 March 2014

CEB Resources plc

("CEB" or "the Company")

INVESTMENT UPDATE, ISSUE OF EQUITY AND PLACING

CEB Resources plc (AIM: CEB) is pleased to announce that in connection with the Definitive Option and Shareholder Agreement (the "Agreement") it entered into on 17th February 2014 with Carbon Investment Soo ("Carbon Investment"), (the "Investment"), the first tranche of the Investment under the terms  of the Agreement is as follows:

·     CEB has received an initial stake of 10% of the ordinary shares of Carbon Investment for £200,000 in cash; 

Carbon Investment has subscribed for a total of 20 million new ordinary shares ("Carbon Investment Shares") in the Company at a price of 0.715p per share;

·     A total consideration of £343,000 in aggregate.

Application will be made for the admission of the Carbon Investment Shares to trading on AIM ("Admission") and it is expected that Admission will occur and that trading in the new ordinary shares will commence at 8.00 am on 28th March 2014.  The Carbon Investment Shares will rank pari passu in all respects with the Company's existing issued ordinary shares.

Following Admission, the Company's enlarged issued share capital will comprise 252,714,628 ordinary shares. The Company does not hold any shares in treasury. This figure of 252,714,628 ordinary shares 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.

CEB Resources Chairman, Cameron Pearce commented:

"CEB has now completed its second investment and is well on the way in implementing our investment strategy, we look forward to keeping shareholders and the market updated with progress at both projects".

FURTHER INFORMATION ON CEB RESOURCES 

CEB Resources is an AIM-listed investment company which adopted a new investing policy in December 2013.  It is now developing a strong portfolio of investments as a significant minority shareholder in various high quality resource projects, acquired at an early stage in their cycle where value enhancement is most likely, utilising CEB cash to develop the assets further.  The Company announced its first resource investment in December 2013 being the advanced Peelwood VMS Zinc-Copper Project in Australia and in February the advanced Mariola Thermal Coal Project in Poland. Both the Peelwood and Mariola Projects are earn-in investments for up to 49%.

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For further information, please contact:

CEB Resources plc Cameron Pearce / Jeremy King	Tel: [phone]
Peter House Corporate Finance Limited Jon Levinson / Lucy Williams	Tel: [phone]
N+1 Singer James Maxwell / Nick Donovan	Tel: [phone]

 

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