Admission to Trading and First Day of Dealings

RNS Number : 5384W

Blencowe Resources PLC

18 April 2019

 

18 April 2019

Blencowe Resources Plc

("Blencowe" or the "Company")

Admission to Trading and First Day of Dealings

Blencowe Resources Plc, a natural resources sector focused company, is pleased to announce the admission of its entire issued share capital, being 31,666,664 ordinary shares of £0.005 each ("Ordinary Shares"), to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the "Admission"). Since incorporation the Company has raised a total of £740,000 (before costs). At the most recent IPO placing price of £0.04, this gives the Company a market capitalisation of approximately £1,266,667 on Admission. Dealing will commence at 8.00 a.m. under the TIDM code "BRES" (ISIN: GB00BFCMVS34).

Cameron Pearce, Non-Executive Chairman commented:

"The Board of Blencowe comprise a knowledgeable and experienced group of professionals with the relevant skills and expertise to successfully source, structure and complete acquisitions to deliver upon our strategy to return substantial value to investors. As such we are pleased to be listing upon the Official List of the Main Market and will provide the market with updates in due course, as we look to enter into our first corporate transaction."

Prospectus

The Prospectus published by the Company's on 11 April 2019 in connection with Admission can be found at www.blencoweresourcesplc.com and will also be available at the FCA's Document Storage Mechanism at http://www.morningstar.co.uk/uk/NSM.

About Blencowe

Blencowe Resources Plc was incorporated in England and Wales on 18 September 2017 and was formed to undertake the acquisition of a target company or business (the "Acquisition").

Following completion of an Acquisition, the objective of the Company will be to operate the acquired business and implement an operating strategy with a view to generating value for its Shareholders through operational improvements as well as potentially through additional complementary acquisitions following the Acquisition. Following the Acquisition, the Company intends to seek re‐admission of the enlarged group to listing on the Official List and trading on the London Stock Exchange or admission to another stock exchange.

The Company's efforts in identifying a prospective target company or business will be primarily limited to both exploration companies and production companies in the natural resources sector in South East Asia, Africa, and the Middle East. However, the Directors will not exclude any target company with growth potential in any other sector or jurisdiction. 

In assessing the potential Acquisition, the Board will pay particular attention to the following overriding factors:

·     the existence of production and/or potential production which will over time provide cash flow for the business;

·     strong exploration potential in known natural resources producing areas;

·     the quality of the management; and

·     an established track record of developing natural resources assets.

Contact details: Blencowe Resources Plc Sam Quinn	Tel: [phone] [e-mail]
Brandon Hill Capital Limited Jonathan Evans (Corporate Finance)	Tel: [phone] [e-mail]

 

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