Independent Resources PLC Holding(s) in Company (2079R)

TIDMIRG

RNS Number : 2079R

Independent Resources PLC

07 December 2016

FOR IMMEDIATE RELEASE

Independent Resources plc

("IRG" or the "Company")

Holding(s) in Company

Independent Resources plc (the "Company") has today been notified that following the proposed conversion of GBP266,596 of debt into shares in the Company at a price of 0.08p per share (conditional upon Admission of the Placing Shares to trading on AIM), Brandon Hill Capital Limited ("Brandon Hill") will have increased its shareholding from 143,185,665 shares to 476,430,665 shares. Brandon Hill will have accordingly increased its direct percentage ownership from 10.72%, prior to today's announced financing, to 20.77% of the enlarged issued share capital of the Company following the admission of the 958,245,000 Placing Shares.

In addition, Brandon Hill will be indirectly interested in 103,991,141 Ordinary Shares held by Neal Griffith, a director of Brandon Hill, representing 4.53% of the enlarged issued share capital.

Note that capitalised terms used in this announcement, but not defined, have the same meaning as in the announcement Placing and Conversion of Debt of 6 December 2016.

For more information, please visit www.ir-plc.com or contact:

 
Greg Coleman             Independent Resources plc   020 7070 0447 
John Treacy             ZAI Corporate Finance Ltd.   020 7060 2220 
  Jamie Spotswood          (Nominated Adviser) 
Oliver Stansfield        Brandon Hill Capital 
 Jonathan Evans           (Broker)                   020 3463 5000 
Simon Hudson             Tavistock Communications    020 7920 3150 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 07, 2016 06:28 ET (11:28 GMT)