First Day of Dealings

 

TIDMQRES 
 
RNS Number : 9337J 
Q Resources Plc 
09 April 2010 
 

                Q RESOURCES PLC ('Q RESOURCES' OR THE 'COMPANY') 
 
                                ADMISSION TO AIM 
 
                                  9 April 2010 
 
The Directors of Q Resources are pleased to announce that the ordinary shares of 
the Company (the "Ordinary Shares") have today commenced trading on AIM. The 
Ordinary Shares will trade under the ticker 'QRES.L' and the Company's ISIN is 
JE00B3MJTG49. 
 
Q Resources is a newly incorporated Jersey public limited company which has been 
established for the purpose of identifying and acquiring, or making investments 
in, Resources assets. 
 
Q Resources is seeking to make a sizeable acquisition within a year of 
Admission, which willrequire Shareholder approval. The Company may acquire 
either operating, or close to operating, assets or licences. 
 
 
The Investment Strategy 
 
·     The Company's strategy is to take advantage of opportunities to acquire 
assets that need capital and possess potentially valuable resources and 
operations with an initial focus on the African region. 
·     Q Resources has entered into a consultancy agreement with 
Gazprombank-Invest MENA who have extensive experience of operating in the 
African natural resources arena. 
·     The Company will ultimately aim to acquire and/or invest in up to five 
metals and/or minerals projects, but may also consider suitable acquisitions in 
the oil and gas sector. 
·     The Company is backed and advised by the same team that brought the assets 
(Mozambique & Tanzania) and partner (Maurel & Prom www.maureletprom.com) to Cove 
Energy PLC (www.cove-energy.com). 
·     It is intended that Q Resources will be a value and growth oriented 
investor, targeting opportunities where there is ability for the Company to add 
value either through its access to capital, its network of contacts or by 
recruiting high quality personnel. 
·     Q Resources will aim to identify investments where the current management 
and operational teams have the relevant experience and technical skills, but may 
lack the capital, or commercial acumen to maximise the potential of their 
resource assets. 
·     The Company has placed 54,583,333 shares at 6p and 13,645,833 2010 
Warrants to subscribers for Placing Shares with investors. Warrants have been 
issued to investors on the basis of one 2010 Warrant for every four Placing 
Shares subscribed (rounded down to the nearest whole number of 2010 Warrants). 
·     The Company has raised GBP2.955 million of capital net of expenses. On 
Admission the Company has 54,583,335 Ordinary Shares in issue and a market 
capitalisation of approximately GBP3.28 million at the Placing Price. 
·     Q Resources will use the net funds received from the Placing to 
investigate and pursue potential acquisitions, perform due diligence, contribute 
towards professional costs associated with an acquisition and fund the initial 
working capital requirements of the Company. 
·     When a suitable investment is identified, the Company would seek to raise 
additional equity from new and existing Shareholders or raise funds through debt 
finance to either purchase such investments and/or facilitate the development of 
such investments. 
Ivan Murphy, Non-Executive Chairman, commented, "We are very pleased about 
today's flotation of Q Resources. The Company has excellent prospects as we see 
an increasing demand for commodities generally but more specifically  in China, 
India and south east Asia. We have built an advisory team around Q Resources, 
including Gazprombank Invest MENA, that gives us access to very exciting 
investments for the Company. There are a number of appealing and advanced 
investment opportunities in the African region where we have extensive 
expertise." 
A copy of the admission document and relevant information provided under AIM 
Rule 26 is available from the Company's website at www.qresourcesplc.com. 
Fairfax I.S. PLC has been appointed as nominated adviser and broker to the 
Company. 
For further information contact: 
 
+--------------------------------+---------------------------------+ 
| Q Resources PLC                | [phone] (c/o Alex   | 
| Ivan Murphy, Non-Executive     | Simmons at Smithfield)          | 
| Chairman                       |                                 | 
|                                |                                 | 
+--------------------------------+---------------------------------+ 
| Fairfax I.S. PLC               | [phone]             | 
| Nomad and Broker               |                                 | 
| Ewan Leggat/Katy Birkin        |                                 | 
|                                |                                 | 
+--------------------------------+---------------------------------+ 
| Smithfield Consultants Limited | [phone]             | 
| Financial PR                   |                                 | 
| Alex Simmons / John Kiely      |                                 | 
+--------------------------------+---------------------------------+ 
 
Board of Directors 
 
Ivan Murphy - Non-Executive Chairman, aged 37 
 
Ivan Murphy is a senior executive with Gazprombank-Invest (MENA), which has been 
appointed as a 
consultant to the Company, further details of which are set out below. He has a 
degree in Economics from University College Cork, Ireland and has 15 years' 
experience in capital markets. He started his career at Aberdeen Asset 
Management PLC, the FTSE 250 listed global asset manager, working in London, 
Miami and Singapore before returning to Ireland to become Managing Director of 
Aberdeen Asset Management Ireland Limited ("Aberdeen"). In 2003 he left Aberdeen 
to work as a consultant to a number of Irish and UK public companies assisting 
them in the disposal of asset management and life insurance assets. In 2005 he 
was one of the founders of Fairfax I.S. PLC a London based investment bank, 
where he focussed on business origination and developing the business in the Far 
East. After leaving Fairfax in 2008, he acted as a consultant to US and Ireland 
based property developer Shelbourne Development Limited negotiating with 
potential partners in China and the Middle East on the financing and 
construction of the Chicago Spire project. Until recently, Ivan was a 
non-executive director of Cove Energy PLC, an AIM quoted upstream oil and gas 
company. 
 
Ivan is a member of the audit committee. 
 
Philippe Cohen- Non-Executive Director, aged 52 
 
Philippe Cohen has 30 years of experience in the energy, metals and commodity 
related banking and trading business. A former banker with Banque Paribas, where 
he spent 11 years, he went on to become a structured finance specialist, firstly 
with trading major Vitol S.A. and then advising various international 
institutions and investors in emerging markets. He is currently an independent 
advisor and has been an associate in a number of oil and gas and mining 
companies, sourcing and structuring transactions as well as commodity trading 
opportunities. He advises a number of oil and gas companies on finance and 
stock-listing strategy and is currently Chief Financial Officer of African 
Excellence Investments Limited, which specialises in investments in West Africa 
with a focus on oil and gas in Nigeria. He has also been active in fundraising 
for and acquisitions of, mining and metals companies, as well as being involved 
in listings of junior resource companies. Over the years Philippe has developed 
geographical expertise in West Africa, Eastern Europe and Indonesia, as well as 
the USA and South America. Philippe obtained a diploma from the ESCP, Ecole 
Superieure de Commerce de Paris, in 1978 and is fluent in French, Spanish, 
English, Portuguese and Italian. 
 
Philippe is a member of the audit committee. 
 
Paul Richards - Non-Executive Director, aged 47 
 
Paul Richards is a partner of Core Capital LLP, a private equity firm. Paul 
qualified as a Solicitor in 1987 and worked for Theodore Goddard specialising in 
corporate and insolvency law. In 1996 he joined the corporate finance department 
of Hoare Govett. He joined Collins Stewart Limited in 1999, and left there in 
2005 when he was part of the founding team at Fairfax I.S. PLC. Paul has 
extensive corporate finance experience and during his time at Collins Stewart 
and then at Fairfax, he led over 75 IPOs and secondary fundraisings on both the 
Official List and the AIM Market. Paul has also been involved in over 20 public 
takeovers acting for both the bidder and the target. He has been involved in a 
wide range of sectors but has particular expertise in property, financials, 
renewables and investment funds. 
 
Paul is the Chairman of the audit committee. 
 
Stephen Folland - Non-Executive Director, aged 52 
 
Stephen Folland, a Jersey resident, is a fellow of the Chartered Institute of 
Secretaries. Since January 2008 he has been an independent non-executive 
director to a number of Jersey-based companies and also acts as a company 
secretarial consultant to offshore companies. Prior to this he was vice 
president of a private Swiss bank between 2005 and 2007 and before that a senior 
manager, latterly a divisional director, within Aberdeen Asset Management PLC, 
responsible for the company secretariat of listed client companies during the 
period 1996 to 2005. Overall, he has 20 years' experience at senior levels in 
the administration and compliance of investment vehicles, including private 
equity vehicles, in Europe, the United Kingdom and the Channel Islands. 
 
Stephen is a member of the audit committee. 
 
The Company does not have a fixed life but the Directors have undertaken to 
propose a resolution for the winding-up of the Company if no investments are 
made within two years of Admission. If such resolution is not passed, the 
Company will continue its operations and a similar resolution will be put to 
Shareholders each year thereafter if no investments have been made. In addition, 
pursuant to the AIM Rules for Companies, if the Company has not substantially 
implemented its Investment Strategy within eighteen months of Admission, the 
Investment Strategy will be subject to approval by Shareholders at the next 
annual general meeting and annually thereafter. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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