NKR Nikanor

RNS Number:6774X
Nikanor Plc
01 June 2007


                                                                           

1 June 2007


THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION,
RELEASE OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN
OR THE REPUBLIC OF IRELAND.

This announcement does not and these materials do not constitute an offer to
sell or issue or the solicitation of an offer to buy or subscribe Ordinary
Shares in any jurisdiction in which any such offer or solicitation would be
unlawful and the information contained herein is not for publication or
distribution, directly or indirectly, in or into the United States, Canada,
Australia, Japan or the Republic of Ireland or any jurisdiction in which such
publication or distribution is unlawful.

CASH PLACING OF 66,700,000 PLACING SHARES RAISES GROSS PROCEEDS OF #400 MILLION

Nikanor PLC (the "Company") is pleased to announce the successful completion of
the placing announced (the "Announcement") earlier today (the "Placing").

A total of 66,700,000 new ordinary shares in the Company have been placed by
JPMorgan Cazenove Limited (as sole bookrunner) ("JPMorgan Cazenove") and
Canaccord Adams (as joint lead manager) at a price of #6.00 per Placing Share,
raising gross proceeds of approximately #400 million.

Glencore International AG Limited has been allocated 50,000,000 Placing Shares.
50 per cent. of these (25,000,000 Placing Shares) has been applied for on behalf
of Ruwenzori Limited. Ruwenzori Limited is an SPV managed by RP Capital in which
a major shareholder is a discretionary trust, in which Dan Gertler is a
potential ultimate beneficiary (the Dan Gertler family trust).

BSGR (the Beny Steinmetz Resources Group), through Oakey, has been allocated
3,000,000 Placing Shares. The Gertner family, through Pitchley, has been
allocated 1,830,000 Placing Shares.

The Placing Shares represent approximately 32% of Nikanor's existing enlarged
share capital.

Commenting on today's announcement, the Company's Executive Chairman, Jonathan
Leslie said:

"We are delighted with the market's positive response to our fund-raising which
enabled us to increase the offer size to reflect the very strong support from
our minority shareholders. The additional funds go a long way to securing the
required financing of the entire development of KOV and our other projects in
the DRC. We very much welcome Glencore as a strategic partner and shareholder.
The off-take agreement significantly underwrites the commercial case for the KOV
mine, and combined with the success of our Placing enables us to proceed with
the implementation of our Project according to schedule."


The Placing Shares will, when issued, be credited as fully paid and will rank
pari passu in all respects with the existing ordinary shares of US$0.01 each in
the share capital of Nikanor, including the right to receive all dividends and
other distributions declared, made or paid after the date of issue of the
Placing Shares, and the Company confirms that no such dividend or declaration
will be made prior to the date of admission of the Placing Shares (or
termination of the Placing Agreement, if earlier). Application will be made for
the Placing Shares to be admitted to trading on AIM. This is expected to occur
on 6 June 2007.


Enquiries

Nikanor PLC Tel: +44 (0)20 7529 5800

Jonathan Leslie, Executive Chairman
Peter Sydney-Smith, Finance Director

JPMorgan Cazenove Tel: +44 (0)20 7588 2828

Ian Hannam
Adam Brett

Merlin PR Tel: +44 (0)20 7653 6620

David Simonson
Tom Randell


Important Notice

This announcement has been issued by, and is the sole responsibility of Nikanor
PLC.

Members of the public are not eligible to take part in the Placing. This
announcement is for information purposes only and is directed only at: (a)
persons in member states of the European Economic Area who are qualified
investors as defined in Article (2)(i)(e) (qualified investors) of Directive 71/
EC; (b) in the United Kingdom, qualified investors who are persons (1) who have
professional experience in matters relating to investments falling within
Article 19(5) (investment professionals) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2001 (as amended) (the "Order") or (2)
falling within Article 49(2)(a) to (d) (high net worth companies, incorporated
associations, etc.) of the Order; and (c) other persons to whom it may otherwise
lawfully be communicated (such persons together being referred to as "relevant
persons").

This announcement, must not be acted on or relied on by persons who are not
relevant. Any investment or investment activity to which this announcement or
the Placing relates is available only to relevant persons and will be engaged in
only with relevant persons. As regards all persons other than relevant persons,
the details of the Placing and the Application Process set out in this
announcement are for information purposes only.

JPMorgan Cazenove, J.P. Morgan Securities Ltd. and Canaccord Adams are acting
for Nikanor PLC and no one else in connection with the offer and will not be
responsible to any other person for providing the protections afforded to their
respective clients, or for providing advice in relation to the proposed offer.

The securities described herein have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act"), and, subject
to certain exceptions, may not be offered or sold within the United States.

The securities described herein are being offered and sold outside the United
States in reliance on Regulation S under the Securities Act.

Until 40 days after the commencement of the offering of the securities described
herein an offer or sale of the securities described herein within the United
States by a dealer (whether or not participating in the offering) may violate
the registration requirements of the Securities Act.

This announcement is not for distribution directly or indirectly in or into the
United States, Canada, Australia, Japan or the Republic of Ireland. This
announcement does not constitute an offer to sell or issue or the solicitation
of an offer to buy or acquire ordinary shares in the capital of Nikanor PLC in
the United States, Canada, Australia, Japan or the Republic of Ireland or any
jurisdiction in which such an offer or solicitation is unlawful. Ordinary shares
in the capital of Nikanor PLC may not be offered or sold in the United States
absent registration under the Securities Act or an exemption from registration.
No public offering of securities will be made.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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