1st May 2008 07:01
Central African Mining&Exploration01 May 2008 Central African Mining & Exploration Company Plc Index: AIM / Epic: CFM / Sector: Mining & Exploration 1 May 2008 Central African Mining & Exploration Company Plc ('CAMEC' or 'the Company') Acquisition of Further Interest in Copper Resources Corporation CAMEC, the fully integrated exploration, mining and production company withconsiderable copper and cobalt operations in the Democratic Republic of theCongo, announces an increase in its shareholding in Copper Resources Corporation("CRC"), the AIM listed company. CAMEC yesterday entered into an agreement to acquire a further 22,320,333 sharesin CRC (the "CRC Shares"). The CRC Shares will be acquired at the price of 200pence per share, the consideration for which will be satisfied by the allotmentof 75,984,114 new ordinary shares of 0.1p each in the Company ("New OrdinaryShares") (at an effective issue price of 47p per New Ordinary Share) and thepayment of cash consideration of £8,928,132. Completion of the purchase of theCRC Shares is subject to the Admission of the New Ordinary Shares to trading onAIM. Following the announcement made by CAMEC on 21 April that it had acquired asignificant strategic interest amounting to 21.13% of CRC's issued sharecapital, the signing of the agreement to acquire the CRC Shares and theon-market purchase of a further 52,500 shares in CRC, mean that CAMEC's interestin the issued share capital of CRC has increased to 40,525,333 shares, whichbased on the latest information published by CRC, represents 47.2% of the issuedshare capital of CRC. Application will be made for the Admission of the New Ordinary Shares to tradingon AIM in due course. ** E N D S** For further information please visit www.camec-plc.com or contact: Phil Edmonds CAMEC Tel: 0845 108 6060Andrew Groves CAMEC Tel: 0845 108 6060Jonathan Wright Seymour Pierce Ltd Tel: 020 7107 8000Ben Brewerton Financial Dynamics Tel: 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CRC.L