09:29:32 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Anglo Pacific Group PLC
Symbol APY
Shares Issued 116,431,796
Close 2015-03-03 C$ 1.90
Market Cap C$ 221,220,412
Recent Sedar Documents

Anglo Pacific closes Narrabri royalty acquisition

2015-03-11 07:42 ET - News Release

Mr. Julian Treger reports

ANGLO PACIFIC GROUP PLC: COMPLETION OF NARRABRI ROYALTY ACQUISITION

Further to news releases of Feb. 4 and March 6, 2015, Anglo Pacific Group PLC has completed the purchase of a private party's royalty interest in the Narrabri coal project.

Of the total consideration of $65-million (U.S.), the cash component of $60-million (U.S.) has been paid (subject to a number of completion adjustments) and the balance of $5-million (U.S.) has been satisfied by the issue of 4,135,238 acquisition shares conditional upon their admission to the official list and to trading on the London Stock Exchange's market for listed securities and to listing on the Toronto Stock Exchange. The acquisition shares are expected to be admitted to the premium segment of the official list and commence trading on the LSE's main market for listed securities at 8 a.m. on March 12, 2015, and at market open on March 12, 2015, on the TSX. The acquisition shares will rank pari passu in all respects with the existing ordinary shares.

Commenting on the acquisition, Julian Treger, chief executive officer of Anglo Pacific, said: "We are pleased to have completed the acquisition of the Narrabri royalty. The acquisition will immediately enhance our portfolio of producing royalties and help to diversify our royalty cash flow through the addition of thermal coal exposure, which we believe is beginning to benefit from recent supply cuts in Australia and a recovery in spot pricing.

"The acquisition is also in line with Anglo Pacific's strategy to acquire royalties on mining assets that are competitively positioned on the cost curve, cash or near-term cash producing, located in established mining jurisdictions and operated by experienced mining companies with strong track records. We hope to continue to capitalize on current market conditions and find similar opportunities that can deliver long-term value to our shareholders."

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