Acquisition & Issue of Equity

23rd Aug 2007 07:00

Anglo Pacific Group PLC23 August 2007 Anglo Pacific Group PLC Acquisition of Advance Royalty Corporation and Uranium Royalties Anglo Pacific Group plc ("the Company") announces that, effective 22nd August2007, it has acquired Advance Royalty Corporation, a private Canadian company.Advance Royalty Corporation owns royalty interests with respect to certainmineral resource properties located in the Athabasca Basin of Saskatchewan,Canada. The Athabasca Basin is considered to be highly prospective for uraniumexploration and production and currently hosts large, high grade uranium minesand deposits. The properties covered by the royalty interests total approximately 4.8 millionacres and are currently operated by a number of listed Canadian companiesincluding ESO Uranium Corp, Titan Uranium Exploration Inc., Magnum UraniumCorp., Ditem Explorations Inc., Terra Ventures Inc. and Bayswater Ventures Corp. As consideration for the acquisition, the Company has allotted 3,125,000Ordinary Shares of 2p each in the Company. These shares rank pari passu in allrespects with the existing issued ordinary shares in the Company. Half theshares allotted under the acquisition are subject to an escrow period of 4months and the remaining shares are subject to an escrow period of 12 months. At close of business 21 August 2007, shares in Anglo Pacific Group plc werepriced at 139p, valuing the total acquisition consideration at £4,343,750. Application will be made to the UK Listing Authority and to the London StockExchange for these shares to be admitted to the Official List and to trading onthe London Stock Exchange's Main Market for listed securities and it is expectedthat dealings will commence on 31st August 2007. For further information: Australian contact: Ms Janis Nugawela +61 (0) 8 9284 3255UK contact: Mr Matthew Tack +44 (0) 20 7318 6360Investor relations: Mr Stephen Scott +44 (0) 20 7653 0030Website: www.anglopacificgroup.com This information is provided by RNS The company news service from the London Stock Exchange

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Related Shares:

APF.L