ECHO Echo Energy Plc

TIDMIRG

RNS Number : 8034Y

Independent Resources PLC

08 March 2017

FOR IMMEDIATE RELEASE

Independent Resources plc

("IRG" or the "Company")

Holding(s) in Company & Update on the Open Offer

The Company announces that on 07 March 2017 it was notified by Sanderson Capital Partners that they no longer hold a notifiable interest in the Company.

Update on the Open Offer

Further to the announcement of 6 March 2017, the Company is continuing to prepare the documentation in support of the Open Offer which, when it is made, is intended to raise approximately GBP1.5 million. Further details of the Open Offer, including the Ex-entitlement Date for the Open Offer, shall be announced shortly when the Open Offer is formally launched. In the meantime however, the Company can confirm that investors purchasing shares in the open market before then will be given the opportunity to participate in the Open Offer.

As mentioned, the Open Offer shares will be priced at 0.065 pence per new share which is the same price as the institutional investment, thereby enabling shareholders to subscribe at an identical price to the cornerstone investor.

For more information, please visit www.ir-plc.com or contact:

For more information, please visit www.ir-plc.com or contact:

 
Greg Coleman             Independent Resources plc   020 7070 0447 
John Treacy             ZAI Corporate Finance Ltd.   020 7060 2220 
  Jamie Spotswood          (Nominated Adviser) 
Oliver Stansfield        Brandon Hill Capital 
 Jonathan Evans           (Broker)                   020 3463 5000 
Simon Hudson             Tavistock Communications    020 7920 3150 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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