Disposal
July 09 2010 - 5:45AM
UK Regulatory
TIDMEML
For Immediate Release: 9 July 2010
EMERGING METALS LIMITED
("EML" or the "Company")
Disposal
The Company is pleased to announce that it has entered into an agreement to
dispose of its entire holding of 368,721 shares in Extract Resources Limited
("EXT Shares") to Nippon Uranium Resources (Australia) Proprietary Limited at a
price of A$7.00 in cash per EXT Share. The gross proceeds of the sale will be
A$2,581,047, approximately GBP1.48 million, which will be available for EML to
apply in accordance with its investing policy approved by shareholders on 16
April. The sale is conditional on certain Australian regulatory approvals and
completion is expected to be no later than 17 August 2010.
Extract Resources Limited ("EXT") is an ASX listed uranium exploration and
development company with significant uranium assets in Namibia, namely the
Husab uranium project comprising the Rossing South, Ida Dome and Hildenhof
deposits and the EXT Shares represent approximately 0.15 per cent. of EXT's
issued share capital.
ENQUIRIES:
Emerging Metals Religare Capital Fox-Davies Capital GTH Communications
Limited Markets Limited
Daniel Fox-Davies
Denham Eke Peter Toby Hall
Trevelyan-Clark +44 (0) 20 7936
+44 (0) 1624 5200 Christian Pickel
639396 Emily Staples
+44 (0) 20 3103 3900
+44 (0) 20 7444 0800
END
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