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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mila Resources Plc | LSE:MILA | London | Ordinary Share | GB00BD4FCK53 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.60 | 0.55 | 0.65 | 0.60 | 0.60 | 0.60 | 600,000 | 07:31:04 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 0 | -549k | -0.0010 | -6.00 | 3.22M |
TIDMMILA
RNS Number : 5559W
Mila Resources PLC
02 August 2018
Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources
2 August 2018
Mila Resources Plc
("Mila Resources" or "the Company")
Proposed Acquisition of High Grade Mineral Sands Projects and Suspension of Trading
Mila Resources, a London Stock Exchange traded natural resource focused company, is pleased to announce that it has entered into Head of Terms and an exclusivity period, to acquire 100% of the share capital by way of a reverse takeover ("the Transaction") of Capital Metals Limited (the "Target"). The Target is a British Virgin Islands registered company, which is the 100% owner of a high-grade mineral sands project in southern Asia (the "Project").
The Transaction remains subject to due diligence, completion of the acquisition and re-listing of the enlarged group on the Official List. If the Transaction is completed, it will constitute a reverse takeover under the Listing Rules and will be subject to approval by shareholders of the Company at a general meeting.
As the Acquisition will constitute a Reverse Takeover, the Company has requested that the listing of its Ordinary Shares be temporarily suspended with effect from 7.30 a.m. today, pending the publication of a prospectus and the application for the enlarged Company to have its Ordinary Shares admitted to the Official List and to trading on the Main Market for listed securities of the London Stock Exchange.
Mila Executive Director, George Donne, said "The Target fits our investment criteria of being a pre-development and rapidly scalable project which, with modest investment, we believe has excellent potential to re-rate quickly. The mineral sands sector is exciting with multiple applications driving demand and the Project is ideally located to access the principal markets in Asia, Europe and North America. We are now conducting due diligence, which we hope will lead to a fast and seamless acquisition that will be mutually beneficial for both parties."
**ENDS**
For more information visit www.milaresources.com or contact:
George Donne Mila Resources Plc info@milaresources.com St Brides Partners Ltd Susie Geliher (PR) +44 (0) 20 7236 1177
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
MSCLLFIATTILIIT
(END) Dow Jones Newswires
August 02, 2018 02:31 ET (06:31 GMT)
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