20th Jul 2007 10:20
Dwyka Resources Limited20 July 2007 Dwyka Resources Limited ("Dwyka" or the "Company") Issue of Shares to Savinara Company SA The Directors of Dwyka Resources Limited have today issued 3,962,757 fully paidordinary shares ('Shares") to Savinara Company SA pursuant to a Shareholdersand Earn-in Agreement ("Agreement") in relation to Swazi Gold Ventures (Pty) Ltd("SGV") as announced on 18 July 2007. The Agreement replaces thelegally-binding Memorandum of Understanding ("MOU") in relation to SGV morefully described in the Company's announcement of 7 March 2007. Under the terms of the Agreement, Dwyka was required to make a payment ofUS$200,000 and issue Shares to the value of US$1,500,000 in order to earn a 50%shareholding in SGV. The Shares were issued pursuant to a calculation based onthe average volume weighted trading price for Dwyka shares traded on ASX in the30 day period prior to the date of signing of the MOU. The signature date ofthe MOU was 2 March 2007 and the average volume weighted trading price for DwykaShares was calculated as A$0.43. This calculation has resulted in Dwyka beingrequired to issue 3,962,757 Shares. Application has now been made to the AIM Market of the London Stock Exchange ("AIM") for 3,962,757 Shares to be admitted to trading on AIM ("Admission").Admission is expected to occur at 8.00am on 26 July 2007. Dwyka now has 126,319,806 Shares in issue. Enquiries: In Australia Melissa Sturgess/Mark Burchnall Dwyka Resources Limited (+618) 324 2955 In the United Kingdom Richard Brown Ambrian Partners Limited (+44) 20 7776 6417 Charlie Geller/Leesa Peters Conduit PR (+44) 20 7429 6604 or (+44) 7970 067 320 or visit http://www.dwyresources.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Nyota Minerals