23rd Feb 2015 07:00
Richland Resources Ltd
("Richland" or "the Company") (AIM: RLD)
Extension of the Longstop date of sale of tanzanite business
Further to its announcement on 26th November 2014 regarding the conditional sale agreement dated 25th November 2014 ("Sale Agreement") with Sky Associates Group Limited ("Sky Associates") pursuant to which the Company will sell to Sky Associates the Group's tanzanite mining and beneficiation business and tsavorite license interests in Tanzania (the "Sale"), Richland confirms that:
it has agreed with Sky Associates to extend the Longstop date for the Sale Agreement from 23rd February 2015 until 16th March 2015; andit is working closely with Sky Associates to close the Sale and provide the necessary notifications to the South African Reserve Bank in accordance with the Exchange Control regulations of South African and anticipates closing the Sale Agreement and the Sale on or before 16th March 2015.
For further information on the Sale Agreement, please refer to the Shareholder Circular dated 26th November 2014 which is available on the Company's website. Defined terms used in this announcement are taken from the Circular.
For more information please contact:
Bernard Olivier
Chief Executive Officer
+61 4089 48182
Mike Allardice
Group Company Secretary
+852 91 864 854
Nominated Advisor & Broker (AIM)
RFC Ambrian Limited
Samantha Harrison
+44 (0) 20 3440 6800
Laurence Read
Corporate Development and Communications Officer
+44 (0)20 3289 9923
http://www.richlandresourcesltd.com
Related Shares:
RLD.L