Completion of offer for sale
February 25 2008 - 1:03AM
UK Regulatory
RNS Number:6232O
Archipelago Resources PLC
25 February 2008
ANNOUNCEMENT
ARCHIPELAGO RESOURCES PLC
SPIN-OFF OF ARCHIPELAGO METALS
SUCCESSFULLY COMPLETED
Archipelago Resources plc ("Archipelago" or the "Company") is pleased to advise
that the offer for sale of Archipelago Metals Limited shares and options to
Archipelago shareholders (the "Offer") announced on 17 January 2008 is now
complete.
The Offer was heavily over subscribed by way of applications for excess shares
and options and after satisfaction of all pro-rata applications, excess
applications were scaled back pro-rata to share holdings in Archipelago or
30,000 shares in Archipelago Metals, whichever was the greater.
When cheques have been cleared, shareholders will be notified of their
allocations of shares and options which will be issuer sponsored
(uncertificated) and managed by Security Transfer Registrars. Excess funds
relating to unaccepted applications for excess shares will be refunded when
application cheques have been cleared.
As advised in the Offer document the shares and options will initially be
unlisted but Archipelago Metal's intention is to list both on the Australian
Stock Exchange in due course.
Archipelago is a mining company listed on the AIM market of the London Stock
Exchange. Following the sale of Archipelago Metals Limited shares and options,
the Company will remain focused on gold mining and exploration, primarily in
Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam
(as majority party in the Pac Lang and Cam Thuy/Ba Thuoc joint ventures with
VINACOMIN a Vietnamese Government mining company) and the Philippines (as option
holder over a 100% interest in the Corplex tenements).
Further Info: Colin Loosemore, Managing Director, Archipelago Resources Plc.
Tel: 00-618-9364-8301
Richard Chase, Ambrian Partners Ltd
Tel: 020-7776-6461
Ron Marshman / John Greenhalgh, City of London PR Limited
Tel: 020-7628-5518
Gerry Beaney / Fiona Kindness, Grant Thornton Corporate Finance
Tel: 020 7383 5100
www.archipelagoresources.com.au
This information is provided by RNS
The company news service from the London Stock Exchange
END
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