Stratmin Global Resources PLC Update on Reverse Takeover and Cancellation (8693M)

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RNS Number : 8693M

Stratmin Global Resources PLC

02 August 2017

2 August 2017

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

StratMin Global Resources Plc

("StratMin" or the "Company")

Update on Reverse Takeover and Cancellation of AIM Listing

Further to the Company's announcement of 5 July 2017, StratMin announces that it has not received the GBP5 million subscription for 206,700,000 ordinary shares of 0.01 pence each in the capital of the Company ("Subscription Shares"), which it had conditionally secured from Axel Management Group Pty Ltd ("Axel"), an Australian incorporated investment company. This has been due to delays in funds being transferred from Axel's Hong Kong sources, which the Company has been advised relate to exchange control approvals. Axel is currently unable to confirm specific timing for this process to be completed. The Company is also currently in discussions with a number of other potential investors to raise the required funds to complete the acquisition of Signature Gold Limited ("Signature Gold").

The Company was suspended on 2 February 2017 pending a reverse takeover of Signature Gold. From that date the Company had 6 months to publish an AIM admission document ("Admission Document") and gain approval of shareholders of the Company at a general meeting. As this has not been achieved within the 6 months since it was suspended from trading on AIM, admission of the Company's Ordinary Shares to trading on AIM will be cancelled, pursuant to AIM Rule 41, with effect from 7.00 am on 3 August 2017 ("Cancellation").

The Company intends to complete the acquisition of Signature Gold following cancellation and seek admission in due course.

Further announcements will be made by the Company as necessary and will also be available on the Company's website.

For further information please visit www.stratminglobal.com or contact:

 
 StratMin Global Resources Plc         +44 (0) 20 
  Brett Boynton, CEO                    3691 6160 
 Allenby Capital Limited (Nominated 
  Adviser & Broker) 
  John Depasquale / Nick Harriss       +44 (0) 20 
  / Richard Short                       3328 5656 
 VSA Capital Limited (Financial 
  Adviser & Broker)                    +44 (0) 20 
  Andrew Raca                           3005 5000 
 Yellow Jersey PR 
  Felicity Winkles                     +44 (0) 776 
  Joe Burgess                           932 5254 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 02, 2017 04:30 ET (08:30 GMT)