Update on AIM Rule 15 status

3 May 2017

Pembridge Resources plc

("Pembridge" or "the Company")

Update on AIM Rule 15 status

Pembridge Resources plc (LON: PERE), announces that it has commenced a fundraising roadshow with the intention of raising funds from new and existing shareholders and is considering converting into an AIM Rule 8 Investing Company, should it raise a minimum of £6m (in accordance with AIM Rule 8). The Company continues to keep all of its options open including maintaining the ability to complete a Reverse Takeover ("RTO") should an appropriate opportunity arise.

The Company can also confirm that its shares will be suspended from trading on AIM six months after it became a Rule 15 Investing Company (14 December 2016) unless it is able to complete an RTO or convert into an AIM Rule 8 Investing Company ahead of that time. Previous references to the Company becoming a Rule 15 Investing Company on 11 January 2017 should be disregarded as this date was stated in error.

Shareholders should note that there can be no certainty that sufficient funds will be raised to enable Pembridge to become an AIM Rule 8 Investing Company or that Pembridge will be able to complete an RTO ahead of its shares being suspended from trading on AIM.

Further announcements will be made in due course, as appropriate.

For further information on the Company, visit: http://www.pembridgeresources.com 

Shareholders should be aware that within six months of becoming an AIM Rule 15 cash shell (on 14 December 2016), the Company must make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 15 or face suspension from trading on AIM. The process of converting into an AIM Rule 8 Investing Company will also satisfy the requirements of AIM Rule 15.