Share Name Share Symbol Market Type Share ISIN Share Description
Alexander Mining Plc LSE:AXM London Ordinary Share GB00B06K1665 ORD 0.001P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.0275 0.025 0.03 0.0275 0.0275 0.0275 1,100,000 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.5 -0.0 - 1

Alexander Mining PLC New Strategy

25/09/2019 7:00am

UK Regulatory (RNS & others)


Alexander Mining (LSE:AXM)
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2 Months : From Sep 2019 to Nov 2019

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TIDMAXM

RNS Number : 5262N

Alexander Mining PLC

25 September 2019

25 September 2019

Alexander Mining plc

("Alexander" or the "Company")

New Strategy

The Board of Alexander Mining plc (AIM:AXM) announces that it has completed a review of its operations and has concluded that it is no longer in Shareholders' interests for the Company to continue to provide financial support indefinitely for its mineral processing technology activities, which are carried out by the Company's wholly owned subsidiary, MetaLeach Limited ("MetaLeach"). The Board is therefore proposing to dispose of MetaLeach and change the Company's business strategy. The Company intends to become an AIM Rule 15 cash shell and to complete a suitable reverse takeover in accordance with the AIM Rules.

Once it has become an AIM Rule 15 cash shell, the Company must make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules within six months of the General Meeting, otherwise the trading of the Company's shares on AIM will be suspended. If the Company has not made an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules within six months of such suspension, the admission of the Company's shares to trading on AIM will be cancelled.

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

Enquiries:

 
  Martin Rosser 
    Chief Executive 
    Mobile: +44 (0) 7770 865 341 
   Alexander Mining plc 
    Tel: +44 (0) 20 7078 9566 
    Email: mail@alexandermining.com 
    Website: www.alexandermining.com 
 
   Cairn Financial Advisers LLP 
    Sandy Jamieson/James Caithie 
    Tel: +44 (0) 20 7213 0880 
    Turner Pope Investments (TPI) Ltd. 
    Andy Thacker 
    Zoe Alexander 
    Tel: +44 (0) 20 3657 0050 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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September 25, 2019 02:00 ET (06:00 GMT)

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