Investment in New World Oil and Gas plc

RNS Number : 2675G

Paternoster Resources PLC

19 November 2015

 

19 November 2015

Paternoster Resources plc

("Paternoster" or the "Company")

Investment in New World Oil and Gas plc ("New World")

Paternoster is pleased to announce that the resolutions to appoint your chairman and Adam Reynolds to the board of New World have been passed at the New World AGM.  On 18 September 2015, Paternoster acquired 366,618,383 shares in New World at a price of 0.07 pence per share, for an aggregate consideration of £256,688. This represents a shareholding in the company of 8.0%.

Nicholas Lee, Chairman said

"The company's share price has already responded positively and I am very much looking forward to working with the board of New World to develop and implement a clear strategy for the company going forward in order to generate value for all shareholders."

For more information please contact:

Paternoster Resources plc:
Nicholas Lee, Chairman Matt Lofgran, Non-Executive Director	[phone] [phone]

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

Joint Broker:
Peterhouse Corporate Finance
Lucy Williams	[phone]

 

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