LEED RESOURCES PLC Status of Implementation of Investing Policy
10 February 2016 - 6:00PM
UK Regulatory
TIDMLDP
LEED RESOURCES PLC("Leed" or "the Company")
Status of Implementation of Investing Policy
Leed Resources plc, (AIM: LDP), the natural resource investing
company, can confirm that it's Directors are continuing to work
towards the implementation of the Company's investing policy as
approved by shareholders at the general meeting on 12 February
2015.
In accordance with AIM Rule 15 and as set out in the notice of
general meeting dated 23 January 2015, the Company must make an
acquisition or acquisitions which constitute a reverse takeover
under AIM Rule 14 or otherwise implement its investing policy
within 12 months from the date of approval. The relevant notice of
general meeting can be viewed at www.leedresourcesplc.com on the
AIM Rule 26 page.
Notwithstanding the Company's existing investments of a total of
A$1.68 million by way of loan notes in Battalion International
Limited, the Directors believe it is unlikely that the Company will
have completed an acquisition or acquisitions which constitute a
reverse takeover under AIM Rule 14 or otherwise implemented its
investing policy (as defined in the AIM Rules for Companies) by 12
February 2016. If this is the case then trading in the ordinary
shares of the Company will be suspended in accordance with the
guidance note to AIM Rule 15. However, the Directors are reasonably
confident that the Company will be able to make an acquisition or
acquisitions which constitute a reverse takeover under AIM Rule 14
or otherwise implement the investing policy within six months from
the date of suspension and before the Company's shares are
cancelled from trading on AIM in accordance with AIM Rule 41.
Further announcements will be made in due course.
For further information, please contact:
Leed Resources plc
Ian Gibbs
Charles Zorab Tel: +44 203 405 4214
Nomad and Broker
SP Angel Corporate Finance LLP
Ewan Leggat/Laura Harrison Tel: +44 20 3470 0470
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160209006837/en/
This information is provided by Business Wire
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