Angel Mining PLC Shareholders Update (5847X)

TIDMANGM

RNS Number : 5847X

Angel Mining PLC

11 February 2013

AIM:ANGM

11 February 2013

ANGEL MINING PLC

("Angel Mining" or the "Company")

Shareholder Update

Angel Mining plc, the Greenland-focused mining and exploration company, provides shareholders with the following update:

As previously announced on 24 January 2013 the Company had filed an intention to appoint an administrator both for the Company and its principal operating subsidiary, Arctic Mining Ltd. This filing provided the Company and Arctic Mining Ltd with a period of protection during which no legal action could be taken, within the UK, against either of the two companies. This notice of intention expired on 06 February 2013. The Company has now filed a new notice of intention which extends the period of protection for another ten business days until 20 February 2013.

Negotiations with the companies' principal trading creditors are on-going and the directors hope to have formal agreements in place by mid-February. The Company also continues to work with Cyrus Capital Partners LP to explore financing and restructuring options.

Resignation of a Director

Frank Chapman yesterday resigned as a Director of the Company with immediate effect.

Suspension from Trading on AIM

Shares in the Company will continue to be suspended from trading on AIM until further notice.

Further updates will be provided to shareholders as soon as possible.

Enquiries:

 
  Angel Mining plc 
   Nicholas Hall, Chief Executive 
    Officer                               07931 709 053 
   Kevin McNair, Chief Financial 
    Officer                                07900 690 908 
  Fox-Davies Capital (NOMAD & 
   Broker) 
   Daniel Fox-Davies/Simon Leathers        0203 463 5000 
 
  Bishopsgate Communications Limited 
   Nick Rome                               0207 562 3350 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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