Shareholder Letter

 

TIDMCLN 
 
RNS Number : 3074V 
Carlton Resources PLC 
08 July 2009 
 
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8 July 2009 
 
 
Carlton Resources Plc ('Carlton' or the 'Company') 
 
 
Shareholder Letter 
 
 
The Directors of Carlton Resources Plc ('Carlton' or the 'Company') advise that 
the following update was posted to shareholders today. 
 
 
 
 
"Dear Shareholder, 
 
 
With the recent EGM now completed I would like to take the opportunity to update 
you on the plans to rebuild Carlton.  Over the past six months the Board has 
concentrated on preserving cash, seeking new sources of funding and assessing 
new opportunities. 
 
 
 

           1.  The preservation of cash 
 
 
The focus over the short term period from January 2009 to date has been the 
preservation of existing cash reserves of the Company by cutting back all 
expenditures to a minimum level. 
 
 
These measures have improved the Company's position by reducing its cash burn 
rate. 
 
 
            2.  New sources of funding 
 
 
A placing of shares to a range of professional investors has been successfully 
completed, resulting in a further GBP400,000 being raised by the Company. These 
funds will be utilised to provide working capital, whilst we seek new 
opportunities for the Company. 
 
 
 

             3. To seek new opportunities for the Company 
 
 
During this period we have assessed a large number of projects that may be 
suitable for Carlton.  Of the opportunities that we have assessed to date, we 
are now in the final due diligence stages on the most prospective of these with 
a view, should such due diligence prove successful, to announcing a transaction 
in the near future. 
 
 
Please don't hesitate to contact me on [e-mail] if we can be 
of any assistance and we hope to bring you further news in the near term.  I 
would be happy to email you or speak with you. 
 
 
Yours sincerely, 
 
 
 
 
 
 
 
 
Martyn Churchouse 
CEO" 
 
 
 
 
 
 
For further information please contact: 
 
 
Martyn Churchouse([phone] 
Mark Burchnall([phone] 
Richard Jarvis([phone] 
Carlton Resources Plc 
 
 
Simon Raggett 
Warren Pearce ([phone] 
Strand Partners Limited 
 
 
or visit http://www.carltonresourcesplc.com 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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