Announcement by Plutus Resources plc

RNS Number : 2730O

Paternoster Resources PLC

05 August 2014

 



Paternoster Resources plc

("Paternoster" or the "Company")

Announcement by Plutus Resources plc

Patersnoster is pleased to note the announcement today by one of its investments, Plutus Resources plc ("Plutus Resources").

Plutus Resources today announced the proposed acquisition of Plutus Energy Limited ("Plutus Energy"), a company established for the purpose of generating power from flexible stand-by power generation farms and generating revenues through the sale of this power to large energy supply companies during periods of peak electricity demand or Grid instability. The consideration for the Acquisition is £485,000.

Plutus Resources further announced that the Company has raised £800,000 through a placing to fund the working capital requirements of the enlarged group.

Nicholas Lee, Chairman of Paternoster, said:

"I am very pleased that Plutus Resources has now announced its acquisition of Plutus Energy and raised £800,000 to fund the development of this business. This is the third significant development regarding Paternoster's investments that has taken place in the last three weeks and this bodes well for the future".

The full announcement released by Plutus Resources can be found at its website: http://www.plutusresourcesplc.com/

For more information please contact:

Paternoster Resources plc:
Nicholas Lee, Chairman	[phone]

Nominated Advisor and Joint Broker:
Westhouse Securities
Antonio Bossi / David Coaten	[phone]

Joint Broker:
Peterhouse Capital Limited
Lucy Williams	[phone]

 

END

 

 

MSCQKPDKCBKKBFK