Kenmare Resources PLC
18 July 2000
Kenmare Resources plc ('Kenmare' or 'the Company')
Kenmare announces the publication of Listing Particulars in respect of
Proposed Acquisition of Minerals Separation Plant and
Proposed Placing of 15,433,333 New Ordinary Shares.
Further to the announcements on 3 May, 2000 and 19 June, 2000 respectively, of
the proposed acquisition of a Minerals Separation Plant and the arrangement of
a placing of 29,433,333 Ordinary Shares of IR5p each, raising in aggregate
Stg£3 million, net of expenses, the Board of Kenmare is pleased to announce
the publication of a document comprising Listing Particulars in relation
thereto.
This document, copies of which have been posted to Shareholders, convenes an
Extraordinary General Meeting of the Company for 2.00 p.m. on Wednesday, 9
August, 2000 ('the EGM'). Resolutions to be considered at the EGM are the
approval of the acquisition of the Minerals Separation Plant and the grant of
securities allotment authority to Directors. The Minerals Separation Plant is
part of the required infrastructure for the development of the Company's Moma
Titanium Mineral Sands Project in Mozambique ('the Moma Project'). The grant
of authority to Directors will facilitate completion of the second tranche
(15,433,333 Ordinary Shares) of the Share Placing.
These arrangements represent further progress toward the achievement of the
Directors' objective of production at the Moma Project by the end of 2002.
Charles Carvill, Chairman of Kenmare, said: 'The purchase of the Minerals
Separation Plant and completion of the Share Placing are further successful
steps in the realisation of our strategy to bring the Moma Titanium Project in
Mozambique to production in 2002. The Definitive Feasibility Study is on
schedule for completion later this year and dismantling and preparation for
transport of the Wet Concentrator Plant, which we purchased earlier this year,
is more than half completed and proceeding well.'
For further information:
Tony McCluskey
Financial Director
Kenmare Resources plc
+353-1-671 0411 +353-87-674 0346
Jim Milton
Murray Consultants
Dublin
+353-1-661 4666 +353-86-255 8400
Tim Blackstone
Blackstone Business Communications
London
+44-171-251 2527 +44-795-714 0416
Kenmare Website : www.kenmareresources.com
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.