Further update re Admission of New Shares

RNS Number : 8468B

Cluff Natural Resources plc

12 October 2015

 

Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources

12 October 2015

Cluff Natural Resources Plc  ('CLNR' or 'the Company')

Further update re Admission of New Shares

Further to the announcements of 17 March 2015 and 14 September 2015, Cluff Natural Resources Plc, the AIM quoted UK natural resources investing company, announces that the subscriber for the 7,791,188 Second Placing Shares (the "Subscriber") has requested a further postponement of Second Admission. The Company has received assurances from the Subscriber of its intention to fulfil its obligations under the subscription agreement with the Company in due course.

As stated in the Company's interim results, CLNR held cash and cash equivalents of £1.94 million on 30 June 2015. Notwithstanding the delay to, and excluding, Second Admission, the Company's working capital position remains in line with that originally envisaged and stated at the time of the Placing, due in part to CLNR's continued focus on reducing overheads and also due to the postponement of  major expenditure on UCG as previously announced.

A further announcement will be made prior to Second Admission.

The current total number of voting rights in the Company therefore remains 199,222,332 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Definitions used in the announcement dated 17 March 2015 shall have the same meanings when used in this announcement, unless the context otherwise requires.

**ENDS**

For further information please visit www.cluffnaturalresources.com or contact the following:

Cluff Natural Resources Plc	Tel: [phone]
Algy Cluff/ Graham Swindells/Andrew Nunn
Panmure Gordon (UK) Limited	Tel: [phone]
Dominic Morley / Adam James (Corporate Finance)
Tom Salvesen (Corporate Broking)
Allenby Capital Limited	Tel: [phone]
Chris Crawford / Katrina Perez (Corporate Broking)
St Brides Partners Ltd	Tel: [phone]
Felicity Winkles / Lottie Brocklehurst (Financial PR)

 

END

 

 

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