Issue of Equity

RNS Number : 2632D

Premier Management Holdings PLC

21 March 2011

 



Premier Management Holdings plc

("Premier Management" or the "Company")

Placing to Raise £2.12 Million

Premier Management, the Central Asia-focused natural resources investment company, announces that it has conditionally raised funds of £2.12 million by way of a placing of 70,649,996 new ordinary shares at 3 pence per share (the "Placing").

Proceeds from the Placing will be used to further the Company's strategy of pursuing acquisitions in the natural resources sector. The Company is making good progress in identifying gold resource opportunities in Kyrgyzstan and has an option to acquire the entire issued share capital of Central Asia Resources Limited (the "CAR Option") which is investigating, and has signed protocols on, the Cholokkaindy Project gold exploration licence.

In the event that the Company exercises the CAR Option, proceeds from the Placing would likely be applied to the development of the Cholokkaindy gold project as well as for the acquisition of controlling stakes in other companies operating in the natural resources sector, with a specific focus on mining projects in Kyrgyzstan.

The Placing is conditional upon admission of the Placing Shares. Application has been made for the Placing shares to be admitted to trading on the AIM Market of the London Stock Exchange ("AIM") and it is expected that they will be admitted to trading on AIM at 8.00 a.m. on 24 March 2011. The Placing shares will rank pari passu with all existing shares and will be equivalent to approximately 13.75 per cent. of the total issued share capital of the Company. 

The Company is further pleased to announce that Gerry Desler, an existing director of the Company, will become chairman with immediate effect.

Gerry Desler, Chairman, commented:

"I am delighted to welcome new shareholders to the Company who have recognised the opportunity to create value through targeted investments in the mining sector, with a specific focus on Kyrgyzstan."

Enquiries:

Premier Management Holdings plc
Gerry Desler, Chairman	Tel. [phone]
Brewin Dolphin (Nomad & Joint Broker)
Alex Dewar	Tel. [phone]
Nikki Cooper	Tel. [phone]
Rivington Street Corporate Finance (Joint Broker)
Dru Edmonstone	Tel. [phone]
M: Communications
Ben Simons	Tel. [phone]

 

END

 

 

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