TIDMPERE

RNS Number : 0899G

Pembridge Resources PLC

24 May 2017

24th May 2017

Pembridge Resources Plc

("Pembridge" or "the Company")

Signing of Share Purchase Agreement

Pembridge Resources plc (LON: PERE), the AIM listed natural resource exploration and development company, today announces that a Share Purchase Agreement (SPA) has been signed between Pembridge Resources (the Seller) and Global Exploration Technologies PTY ltd ("GET") (the Buyer) for the sale of the Botswana assets currently held by PERE.

Further to the RNS on 1 February 2017, Pembridge has sold its 48.88 per cent shareholding for a consideration of GBP150,000 payable in cash to GET for five exploration licences in the Kalahari Copper Belt in Botswana held through three local subsidiary companies. The proceeds will be used to fund normal working capital.

David Linsley, CEO, Stated:

"Although excellent exploration licenses, we feel that these Botswana assets are too early stage for Pembridge and, with the minority shareholding, did not fit in with the company strategy that we are pursuing..

"Pembridge has an attractive pipeline of more advance stage projects management is pursuing which we are confident can deliver excellent value for our shareholders."

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 - Joint     T: +44 (0) 20 
  Broker                    7186 9900 
  Damon Heath 
 
  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 
  Zoe Alexander 
 
 Blytheweigh - Financial   T: +44 (0) 207 
  PR                        138 3204 
  Tim Blythe, Camilla 
  Horsfall, Nick Elwes

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 24, 2017 04:06 ET (08:06 GMT)

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