Issue of Shares
02 December 2010 - 2:25AM
UK Regulatory
TIDMSLV
RNS Number : 2036X
Sylvania Resources Ltd
01 December 2010
Sylvania Resources Limited ('Sylvania' or the 'Company')
ASX, AIM: SLV
ISSUE OF SHARES
As announced on 29 September 2010, Sylvania entered into a Share Exchange
Agreement with Africa Asia Capital Limited ("AAC"), a SamancorCr Group company,
to acquire the remaining 26% interest in Sylvania Metals (Proprietary) Limited
("Sylvania Metals"), which operates the Sylvania Dump Operation ("SDO") to raise
Sylvania to 100% ownership of SDO.
On 29 September 2010, Sylvania issued an initial tranche of 7,711,888 shares to
AAC. In accordance with shareholder approval received at the Company's General
Meeting held on Tuesday 23 November 2010, Sylvania is pleased to announce that
it has issued the remaining tranche of 51,170,663 shares to AAC, in
consideration for the 26% interest in Sylvania Metals.
Application has been made for 51,170,663 shares to be admitted to trading on the
AIM market of the London Stock Exchange. Admission is expected to become
effective at 8.00am on 7 December 2010. Following Admission, the Company will
have 301,961,805 fully paid ordinary shares on issue.
For further information please contact:
In South Africa
Terence McConnachie (CEO Sylvania Resources
Limited)
(+27 11) 673 1171
Louis Carroll (FD/Joint Company Secretary)
Sylvania Resources
Limited
(+27 11) 673 1171
In Australia
Richard Rossiter (Chairman)
Sylvania Resources Limited
(+614) 1868 8338
Grant Button (Director/Joint Company Secretary)
Sylvania Resources
Limited
(+618) 9226 4777
In United Kingdom
Richard Brown
Ambrian Partners Limited
+44 (0) 20
7634 4700
Laurence Read/Beth Harris
Threadneedle Communications
+44 (0) 20 7653 9855
This information is provided by RNS
The company news service from the London Stock Exchange
END
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