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."
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.