Independent Resources PLC Placing and Conversion of Debt - Update (1378R)

TIDMIRG

RNS Number : 1378R

Independent Resources PLC

07 December 2016

FOR IMMEDIATE RELEASE

Independent Resources plc

("IRG" or the "Company")

Placing and Conversion of Debt - Update

Independent Resources plc (the "Company") is pleased to announce that it can now confirm that the Placing announced on 6 December 2016 was fully subscribed.

The Company therefore confirms that the Placing will be of 958.245million new Ordinary Shares in the Company to raise gross proceeds of GBP766,596, comprising GBP500,000 of new cash funding and the conversion of GBP266,596 of Company indebtedness.

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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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

STREAEAKESDKFAF

(END) Dow Jones Newswires

December 07, 2016 02:00 ET (07:00 GMT)