28th Mar 2014 10:23
LONDON (Alliance News) - Bellzone Mining PLC Friday admitted it is in talks with one of its major shareholders about getting more equity capital, a move that could lead to a takeover offer being made for the company.
In a statement that was put out after its share price jumped higher, the company said it is in talks with China Sonangol International Singapore Pte Ltd about new equity funding. It said it was putting out the statement without the consent of China Sonangol.
"At this stage there can be no certainty that the preliminary discussions will result in additional equity capital being secured, nor as to the terms on which any proposal might be made or pursued," Bellzone said in a statement.
It said it would make another announcement in due course.
China Sonangol is the company's third-largest shareholder with a 24.61% stake, according to data on MorningStar.
Bellzone Mining shares were up 32.5% at 4 pence Friday morning, the biggest gain on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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