3rd Jun 2005 07:00
Aminex PLC03 June 2005 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN PART OR IN WHOLE IN OR INTO THEUNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA. For immediate release 3rd June 2005 Aminex PLC ("Aminex" or the "Company") Placing and Open Offer to raise up to Stg£6.6 million (€9.7 million) Highlights • Placing of 50,800,000 Ordinary Shares at Stg 8.7p per share to raise approximately Stg£4.4 million (€6.5 million) (the "Placing"); • Open Offer to Qualifying Shareholders of 24,973,433 Ordinary Shares on the basis of 1 Ordinary Share for every 4 existing Ordinary Shares at Stg 8.7p (€12.9c) per share to raise up to Stg£2.2 million (€3.2m) (the "Open Offer"); and • Proceeds of the Placing and Open Offer to fund capital expenditure on the Group's Tanzanian and North Korean acreage and other opportunities The Board of Aminex is pleased to announce that Aminex has conditionally placedfirm 50,800,000 Ordinary Shares with institutional investors, representingapproximately 51% of the Existing Issued Share Capital on 3 June 2005 (the "Placing"). The gross proceeds of the Placing will amount to approximatelyStg£4.4 million (€6.5 million) and are intended to be used to fund capitalexpenditure for the Group's Tanzanian and North Korean acreage and in pursuingnew acreage opportunities, development drilling in the USA and for generalworking capital purposes. The Placing has been arranged by Oriel and Davy. The Placing has not beenunderwritten and is conditional on shareholder approval, the Placing Agreementbecoming unconditional in all respects and admission of the Placing Shares andthe Open Offer Shares (together the "New Ordinary Shares") to the official listsof the Irish Stock Exchange and the UK Listing Authority and to trading on themain markets of the Irish Stock Exchange and the London Stock Exchange. In addition, the Company today announces the launch of an Open Offer toQualifying Shareholders of 24,973,433 Ordinary Shares ("Open Offer Shares") onthe basis of 1 new Ordinary Share for every 4 existing Ordinary Shares at Stg8.7p (€12.9c) per share to raise up to Stg£2.2 million (€3.2m). The Open Offer has not been underwritten and Oriel and Davy have reserved theright to place any unsubscribed Open Offer Shares for the benefit of the Companyat the Placing Price of Stg 8.7p, following the closing date of the Open Offer. Application has been made to the Irish Stock Exchange and to the UK ListingAuthority for 75,773,433 New Ordinary Shares to be admitted to the Official Listof the Irish Stock Exchange and the Official List of the UK Listing Authorityand application has been made to the Irish Stock Exchange and the London StockExchange for admission of these New Ordinary Shares to trading on theirrespective main markets for listed securities. It is expected that admission ofNew Ordinary Shares to the Official Lists will become effective and thatdealings will commence, in respect of the Placing Shares and the Open OfferShares on or around 28 June 2005. A document comprising listing particulars and a prospectus (the "ListingParticulars") has been prepared to provide further information on Aminex and itsoperations, to advise Shareholders of the details of and procedure forapplication under the Open Offer and to facilitate admission of the New OrdinaryShares to listing on the Official Lists of the Irish Stock Exchange and of theUK Listing Authority, and to trading on the Irish Stock Exchange's and theLondon Stock Exchange's respective main markets for listed securities. For Further Information:Aminex PLC(+44 20 7240 1600)Brian Hall Oriel Securities Limited(+44 20 7710 7600)Simon Bragg/Scott Richardson Brown Davy Corporate Finance Limited(+353 1 679 6363)Hugh McCutcheon/Fergal Meegan Placing and Open Offer Timetable: Event Time and Date Record Date for the Open Offer the close of business on 2 June 2005 Date of despatch of Listing Particulars and the Application Forms 3 June 2005 Latest time and date for splitting Application Forms (to satisfy bona fide 3.00 p.m. on 22 June 2005market claims only) Latest time and date for receipt of completed Application Forms and 3.00 p.m. on 25 June 2005payment in full under the Open Offer Time and Date of Extraordinary General Meeting 11.00a.m. on 27 June 2005 Admission to listing of the New Ordinary Shares to the Official Lists 28 June 2005and commencement of dealing therein on the Irish Stock Exchange and theLondon Stock Exchange* CREST accounts expected to be credited in respect of the New Ordinary 28 June 2005Shares no later than* Definitive share certificates in respect of the New Ordinary Shares 1 July 2005expected to be despatched no later than* *Assumes passing of the Resolution to be proposed and considered at theExtraordinary General Meeting. Each of the times and date in the above timetable is subject to change Document Availability A copy of the Listing Particulars dated 3 June 2005 will be submitted to theIrish Stock Exchange and the UK Listing Authority and will shortly be availablefor inspection at the following locations: Company Announcements Office, Financial Services Authority,The Irish Stock Exchange, 25 The North Colonnade,28 Anglesea Street, Canary Wharf,Dublin 2, London E14 5HS,Ireland. United Kingdom.Tel: + 353 1 617 4200 Tel: + 44 207 066 1000 Terms defined in the Listing Particulars have the same meaning in thisannouncement. Any purchase of, or application for, Ordinary Shares in thePlacing and Open Offer should only be made on the basis of the informationcontained in the Listing Particulars. Your attention is drawn in particular tothe section entitled ''Risk Factors'' in Part III of the Listing Particulars. Oriel Securities Limited (''Oriel'') (which is regulated in the UK by theFinancial Services Authority) and Davy Corporate Finance Limited and J & E Davy(collectively ''Davy'') (each of which are regulated in Ireland by the IrishFinancial Services Regulatory Authority) are acting exclusively for Aminex inconnection with the requirements of the Irish Stock Exchange and the UK ListingAuthority and for no one else (including the recipient of the ListingParticulars) and will not be responsible to any other person for providing theprotections afforded to customers of Oriel and Davy nor for providing advice inconnection with any transaction or arrangements referred to in the ListingParticulars and this announcement. The information contained in the Listing Particulars and this announcement isnot for publication or distribution in or into the United States of America.These materials are not an offer of securities for sale in the United States.The securities referred to therein have not been and will not be registeredunder the U.S. Securities Act of 1933, as amended, and may not be offered orsold in the United States absent registration under that Act or an availableexemption from registration. No public offering of the securities referred toherein will be made in the United States. The information contained in the Listing Particulars and this announcement isnot for publication or distribution to persons in Australia, Canada, Japan orSouth Africa. Subject to certain exceptions, the New Ordinary Shares may not,directly or indirectly, be offered, sold, taken up or delivered in, into or fromAustralia, Canada, Japan or South Africa. The Listing Particulars or thisannouncement does not constitute an offer to sell or the solicitation of anoffer to buy New Ordinary Shares in any jurisdiction in which such offer orsolicitation is unlawful. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Aminex