re Oracle Coalfields plc

RNS Number : 9418E

Regency Mines PLC

14 April 2011

 



REGENCY MINES PLC

Re Oracle Coalfields plc

14 April 2011

Regency Mines ("Regency" or the "Company"), the mineral exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan, notes today's announcement by Oracle Coalfields plc (PLUS: ORCL) ("Oracle") of its placing of 30,000,000 new ordinary shares at 10p per share (the "Placing") raising £3 million before expenses and its application to be admitted to trading on the AIM, with dealings expected to commence on 20 April 2011 ("Admission").  Following market purchases of a further 2,000,000 Oracle shares in 2010, Regency currently holds 22,750,000 Oracle ordinary shares, representing approximately 12.35 per cent. of Oracle's existing issued ordinary share capital (10.62 per cent. Oracle's enlarged issued ordinary share capital at Admission).

In accordance with the terms of its original subscription for Oracle shares announced on 12 November 2011, Regency has elected to subscribe for an additional 30,427,750 new ordinary shares in Oracle at the Placing price of 10p per share. It is anticipated that these shares will be unconditionally allotted following Oracle's annual general meeting expected to be held in June 2011. Following such allotment, Regency is expected to be interested in a total 53,177,750 Oracle shares, representing approximately 21.74 per cent. of Oracle's issued ordinary share capital at Admission, as enlarged by such allotment.

Enquiries:

Andrew Bell	0207 402 4580 or 07766 474849	Regency Mines PLC	Chairman
Sandra Spencer	0207 402 4580 or 07757 660 798	Regency Mines PLC	Public and Investor Relations
Peter Trevelyan-Clark/ Ben Jeynes	020 7444 0800	Religare Capital Markets	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker

Updates on the Company's activities are regularly posted on its website, www.regency-mines.com.

 

END

 

 

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