20th May 2008 07:00
Avocet Mining PLC ("Avocet" or the "Company")
Completion of Banda Transaction Satisfied by Treasury Shares
Avocet announces that, following receipt of all Indonesian regulatory approvals, the Company has completed the purchase of the Banda exploration properties in Indonesia under the terms previously announced on 29 June 2007. In consideration for the completion of this transaction the Company has today issued 712,000 ordinary shares of 5 pence each ('Ordinary Shares') out of treasury shares.
The Company currently has 121,576,530 Ordinary Shares in issue of which 760,000 Ordinary Shares are now held in treasury, representing 0.63 per cent of the total Ordinary Shares in issue.
Contacts:
Alan McFarlane, Company Secretary, Avocet Mining PLC, 020 7907 9000
Richard Brown, Richard Greenfield, Ambrian Partners Limited, 020 7634 4700
Related Shares:
AVM.L