13th Dec 2007 07:01
Aricom PLC13 December 2007 Press Release 13 December 2007 Aricom plc ("Aricom" or "the Company" or "the Group") Inclusion in the FTSE 250 Index Aricom plc, the Anglo-Russian developer of mineral resources, announces that theCompany's shares will be included in the FTSE 250 Index. Aricom moved from the Alternative Investment Market (AIM) to the Main Board ofthe London Stock Exchange on the 29 October following a period of substantialcapital growth on AIM. Trading in the revised FTSE 250 will take effect fromclose of business on 21 December. Jay Hambro, Aricom's Chief Executive said: "Our inclusion in the FTSE 250 marks a significant stage in the development ofAricom. Since we began trading in December 2003, Aricom has grown from a smallAIM development company to become a member of the FTSE 250. Our financialgrowth has mirrored the clear development of our asset base along with theCompany's operational progress, which now sees mining having commenced at ourKuranakh project." For further information:Aricom plcJay Hambro, Chief Executive +44 (0) 20 7201 8939 www.aricom.plc.ukAbchurchCharlie Jack / George Parker +44 (0) 20 7398 7700 www.abchurch-group.com Notes to Editors Aricom plc is a leading developer of Russian metal and mining assets, focusingon iron ore and ilmenite production and delivery. The Company was establishedin September 2003 to develop projects, situated in the north west of the AmurRegion, in Russia's Far East. These projects are set to service the Chinese andRussian commodity market. Aricom currently operates four projects in the Amur region and the adjoiningJewish Autonomous Region. The Group's projects Kuranakh, K&S, Garinskoye andBolshoi Seym have combined estimated reserves and resources of over one billiontonnes of iron ore and ilmenite ores. The location of the Group's depositsoffer a significant logistical advantage being close to theTrans-Siberian-Express and the Baikal-Amur Magistral railways. In 2005, 700 million tonnes of iron ore were shipped globally, of that 300million (43%) was shipped to China. It is estimated that China imported 300million tonnes of ore in 2006 to facilitate its demand for steel production. InJune 2006, Aricom announced a Memorandum of Understanding with China's largestnonferrous metal company Chinalco, to co-operate in the design and developmentof a Titanium Sponge production plant in China. Aricom is headquartered in London, with a highly experienced board of directorscomposed of British and Russian citizens. Aricom's shares and warrants wereadmitted to the Official List of the Financial Services Authority and the MainMarket of the London Stock Exchange on 29 October 2007 and trade under thesymbols ORE and OREW. For further information please visit www.aricom.plc.uk. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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