TIDMPERE

RNS Number : 1082E

Pembridge Resources PLC

03 May 2017

3 May 2017

Pembridge Resources plc

("Pembridge" or "the Company")

Update on AIM Rule 15 status

Pembridge Resources plc (LON: PERE), announces that it has commenced a fundraising roadshow with the intention of raising funds from new and existing shareholders and is considering converting into an AIM Rule 8 Investing Company, should it raise a minimum of GBP6m (in accordance with AIM Rule 8). The Company continues to keep all of its options open including maintaining the ability to complete a Reverse Takeover ("RTO") should an appropriate opportunity arise.

The Company can also confirm that its shares will be suspended from trading on AIM six months after it became a Rule 15 Investing Company (14 December 2016) unless it is able to complete an RTO or convert into an AIM Rule 8 Investing Company ahead of that time. Previous references to the Company becoming a Rule 15 Investing Company on 11 January 2017 should be disregarded as this date was stated in error.

Shareholders should note that there can be no certainty that sufficient funds will be raised to enable Pembridge to become an AIM Rule 8 Investing Company or that Pembridge will be able to complete an RTO ahead of its shares being suspended from trading on AIM.

Further announcements will be made in due course, as appropriate.

For further information on the Company, visit: http://www.pembridgeresources.com

 
 Pembridge Resources           T: +44 (0)203 
  PLC                           778 0655 
  David Linsley, Chief 
  Executive Officer 
 SPARK Advisory Partners       T: +44 (0) 2033 
  - Nominated Adviser           683 555 
  Sean Wyndham-Quin 
  Neil Baldwin                  www.sparkadvisorypartners.com 
 
 Shard Capital - JointBroker   T: +44 (0) 20 
  Damon Heath                   7186 9900 
 
 
 SI Capital Limited            T: +44 (0) 1483 
  - Joint Broker                413 500 
  Nick Emerson 
  Andy Thacker 
 Beaufort Securities           T: +44 (0) 207 
  Limited - Joint Broker        382 8300 
  Elliot Hance 
 
 Blytheweigh - Financial       T: +44 (0) 207 
  PR                            138 3204 
  Tim Blythe, Camilla 
  Horsfall, Nick Elwes

Shareholders should be aware that within six months of becoming an AIM Rule 15 cash shell (on 14 December 2016), the Company must make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 15 or face suspension from trading on AIM. The process of converting into an AIM Rule 8 Investing Company will also satisfy the requirements of AIM Rule 15.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

May 03, 2017 12:06 ET (16:06 GMT)

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