NU. Nufcor

    RNS Number : 7070B
  Nufcor Uranium Limited
  20 August 2008
   

    THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, SOUTH
AFRICA, AUSTRALIA, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES IN THE
UNITED STATES, CANADA, SOUTH AFRICA, AUSTRALIA, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
    A PRELIMINARY PROSPECTUS CONTAINING IMPORTANT INFORMATION RELATING TO THESE SECURITIES HAS BEEN FILED WITH SECURITIES COMMISSIONS OR
SIMILAR AUTHORITIES IN CERTAIN JURISDICTIONS OF CANADA. THE PRELIMINARY PROSPECTUS IS STILL SUBJECT TO COMPLETION OR AMENDMENT. COPIES OF
THE PRELIMINARY PROSPECTUS MAY BE OBTAINED ON NUFCOR 
URANIUM LIMITED'S WEBSITE, WWW.NUFCORURANIUM.COM, AND UNDER ITS PROFILE AT 
WWW.SEDAR.COM.  THERE WILL NOT BE ANY SALE OR ANY ACCEPTANCE OF AN OFFER TO BUY 
THE SECURITIES UNTIL A RECEIPT FOR THE FINAL PROSPECTUS HAS BEEN ISSUED.
    NUFCOR URANIUM LIMITED 
    PROPOSED APPOINTMENTS TO NUFCOR CAPITAL LIMITED AND UPDATE ON TSX LISTING
    Proposed appointments to Nufcor Capital Limited
    Nufcor Uranium Limited ("NUL" or the "Company") today announces a number of proposed new appointments to Nufcor Capital Limited (the
"Adviser"), NUL's adviser in relation to the acquisition, sale, lending and storage of uranium. 
    Following the acquisition of Nufcor International Limited ("NIL") by Constellation Energy Commodities Group Limited ("CECG") in June
2008, CECG intends to make the following changes to the board of directors of the Adviser, a wholly-owned subsidiary of NIL:
    Matthew Arnold (Head of Constellation Energy Commodities Group, London Office), Mark Evans (Chief European Counsel of Constellation
Energy Commodities Group, London) and Mark Orman (President of Constellation Global Commodities, Baltimore) will be appointed to the board
of directors of the Adviser, subject to approval from the Financial Services Authority (the "FSA"). Subject to approval from the FSA, Mr
Paul Cronin, currently Director of Origination at CECG, will also be appointed as an investment adviser of the Adviser. CECG further expects
to appoint Mr Arnold as Chief Executive Officer of the Adviser, subject to approval from the FSA.
    It is intended that Messrs Hill and Raghavjee will step down as directors. They will however continue in their roles as investment
advisers within the Adviser. 
    Kelvin Williams, Non-Executive Chairman of Nufcor, commented: 
    "We are pleased that the proposed new directors and additional personnel of the Adviser comprise senior members of the CECG team and, as
such, the NUL board is confident that they will bring a wealth of industry experience and important relationships which will be of benefit
to NUL and its shareholders. The proposed addition of Paul Cronin to the day-to-day operations of the Adviser will supplement the existing
advisory team of Nick Hill and Rian Raghavjee".
    The Company further announces that Mr Gary Stoker, an investment adviser at the Adviser, has resigned from the Adviser to pursue other
opportunities and will be leaving the Adviser at the end of September 2008. The NUL board would like to thank Mr Stoker for his commitment
and contribution to Nufcor and wishes him well in his future endeavours.

    Offering update
    NUL announced on 30 June 2008 that it had filed a preliminary long form prospectus in each of the provinces and territories of Canada to
qualify the distribution to the public (the "Offering") of new ordinary shares in the capital of NUL (the "New Shares").  NUL is awaiting
receipt of regulatory clearance from the Ontario Securities Commission to file a final prospectus and to complete its listing on the Toronto
Stock Exchange. 
    Marketing of the Offering will recommence on filing of the final prospectus.
    NUL will provide a further update on the Offering following receipt of regulatory clearance to file the final 
prospectus.
    For further information, please contact:

    Nufcor Uranium Limited
    Kelvin Williams         +27 827 880 094 
    (Chairman)

    Nufcor Capital Limited
    Nick Hill                     +44 207 184 5336

    Deutsche Bank, Nominated Adviser and Joint Broker
    Rupert Green            +44 207 545 8000
    Edward Law    
    Edward Sankey

    Canaccord Adams Limited, Financial Adviser and Joint Broker
    Mike Jones               +44 207 050 6500
    Warren Pimm            
    Adria Da Breo-Richards

    Smithfield
    Rupert Trefgarne        +44 207 360 4900

    This announcement is for information only and does not constitute an offer or invitation to underwrite, subscribe for or otherwise
acquire or dispose of any securities or investment advice in any jurisdiction. Past performance is no guide to future performance. Persons
needing advice should consult an independent financial adviser.

    This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, South
Africa, Australia, Japan or any jurisdiction in which the same would be unlawful. The New Shares have not been, and will not be, registered
under the United States Securities Act of 1933, as amended, (the "US Securities Act") or under the laws of any state of the United States
and NUL does not intend to conduct a public offer of any securities in the United States. The New Shares may not be offered or sold in the
United States absent registration or an exemption from registration under the US Securities Act. This announcement does not constitute an
offer to sell or issue, or the solicitation of an offer to buy or subscribe for, securities in the United States, Canada, South Africa,
Australia or Japan or any jurisdiction in which such offer or solicitation is unlawful and should not be relied upon in connection with any
decision to acquire New Shares or other securities in the capital of NUL. Other than in Canada, there will be no public offer of the New Shares.

    The distribution of this announcement and the offering or sale of the New Shares in certain jurisdictions may be 
restricted by law. No action has been taken by NUL, Canaccord Capital Corporation ("CCC") or Deutsche 
Bank Securities Limited ("Deutsche Bank") that would permit an offering of the New Shares or possession or 
distribution of this announcement or any other offering or publicity material relating to the New Shares in any 
jurisdiction where action for that purpose is required. Persons into whose possession this announcement 
comes are required by NUL, CCC and Deutsche Bank to inform themselves about, and to observe, any 
such restrictions.

    This announcement is only addressed to and directed at persons in member states of the European Economic Area ("EEA") who are "qualified
investors" ("Qualified Investors") within the meaning of Article 2(1)(e) of the EU Prospectus Directive (Directive 2003/71/EC) (the
"Prospectus Directive"). In addition, in the United Kingdom, this announcement is only addressed to and directed at persons: (i) having
professional experience in matters relating to investments falling within Article 19 of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended) (the "Order") and persons falling within Article 49 of that Order and (ii) to whom it may
otherwise be lawfully communicated (all such persons together being "Relevant Persons"). The information regarding the Offering referred to
in this announcement must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to
which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.  Any person in the EEA or in the UK who acquires any securities in the Offering or to
whom any offer of securities is made will be deemed to have acknowledged and agreed that they are such a Qualified Investor or Relevant
Person.  

In the case of any securities acquired by a financial intermediary as that term is used in Article 3(2) of the Prospectus Directive, such
financial intermediary will also be deemed to have represented and warranted that the securities acquired by it in the Offering have not
been acquired on a non-discretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, persons in
circumstances which may give rise to an offer of securities to the public other than an offeror resale in a member state of the EEA which
has implemented the Prospectus Directive to Qualified Investors or in circumstances in which the prior consent of CCC and Deutsche Bank has
been given to each such proposed offer or resale. NUL, CCC and Deutsche Bank and their respective affiliates, will rely upon the truth and
accuracy of the foregoing representations, warranties, acknowledgements and agreements. 

    This announcement has been issued by and is the sole responsibility of NUL.  Neither CCC 
nor Deutsche Bank nor any other of their respective affiliates and agents shall have any liability for any 
    information contained in this announcement.  


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