Strategic Natural Resources PLC Update on discussions with LCB (8090G)
12 Mayo 2014 - 1:00AM
UK Regulatory
TIDMSNRP
RNS Number : 8090G
Strategic Natural Resources PLC
12 May 2014
Strategic Natural Resources Plc
("SNR" or the "Company")
Update on discussions with London Commodity Brokers and the
potential funding
Further to the announcement by the Company on 25 April 2014, the
board of SNR, the AIM quoted natural resources developer operating
in South Africa, which indirectly owns 74% of Elitheni Coal (Pty)
Limited ("Elitheni"), announces that the Company continues to hold
discussions with London Commodity Brokers ("LCB") regarding a
settlement of amounts potentially owed to LCB. In light of these
discussions both LCB and the Company have agreed to apply to
adjourn the winding up hearing, which is taking place today, for
one week.
The Company is still in advanced discussions with a potential
investor and hopes to soon be in a position to finalise and
announce the terms of a fundraising, to be effected through the
issue of new ordinary shares of SNR. There can be no guarantees
this proposed fundraising will be completed and in the event that
the Company is unable to successfully raise funds then the board of
SNR will have to take steps to protect the interests of the
Company's creditors.
Further updates will be provided as and when appropriate.
For further information, please contact:
Strategic Natural Resources plc
Andy Brennan, Chairman
Gabriel Ruhan, CEO +44 (0)20 3328 5656
---------------------
Allenby Capital Limited - Nominated Adviser and Broker
---------------------
Nick Naylor/James Reeve +44 (0) 20 3328 5656
---------------------
For further information about Strategic Natural Resources plc
please visit www.snrplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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