Strategic Review

RNS Number : 6279V

Independent Resources PLC

16 January 2013

 



16 January 2013

Independent Resources plc

("IRG" or "the Company")

Strategic Alternatives process

The Board of IRG wishes to announce that it is considering a range of strategic alternatives to enhance shareholder value which may include farm outs, the sale of assets, and the merger or sale of the Company.

The Company confirms that it has held, and is continuing to hold, preliminary discussions with a number of third parties concerning a range of these potential transactions.  However, none of these discussions have progressed to a stage where the outcome is definitive and there can be no certainty that any of these discussions will result in a transaction. The Company will provide further updates in due course and the Board reserves the right to reject any approach and to terminate discussions with any interested party at any time.

As at 11^th January 2013, the Company had a cash balance of £1.8 million. 

Further announcements will be made in due course.

IRG is not a company to which the City Code on Takeovers and Mergers applies.

For further information, please visit www.ir-plc.com or contact:
Grayson Nash	Independent Resources plc	[phone]
Allan Piper/Simon Hudson	Tavistock Communications	020 7920 3150
David Porter/Richard Thompson (Corporate Finance)	Seymour Pierce Limited	020 7107 8000
Richard Redmayne/David Banks (Corporate Broking)
Phil Davies / James Wood (Corporate Broking)	Charles Stanley Securities	020 7149 6074

 

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