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Regulatory Story
Company Alexander Mining PLC
TIDM AXM
Headline New Strategy
Released 07:00 25-Sep-2019
Number 5262N07

RNS Number : 5262N
Alexander Mining PLC
25 September 2019
 

 25 September 2019

 

Alexander Mining plc

("Alexander" or the "Company")

New Strategy

 

The Board of Alexander Mining plc (AIM:AXM) announces that it has completed a review of its operations and has concluded that it is no longer in Shareholders' interests for the Company to continue to provide financial support indefinitely for its mineral processing technology activities, which are carried out by the Company's wholly owned subsidiary, MetaLeach Limited ("MetaLeach").  The Board is therefore proposing to dispose of MetaLeach and change the Company's business strategy.  The Company intends to become an AIM Rule 15 cash shell and to complete a suitable reverse takeover in accordance with the AIM Rules.

 

Once it has become an AIM Rule 15 cash shell, the Company must make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules within six months of the General Meeting, otherwise the trading of the Company's shares on AIM will be suspended.  If the Company has not made an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules within six months of such suspension, the admission of the Company's shares to trading on AIM will be cancelled.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

Enquiries:

 

Martin Rosser

Chief Executive

Mobile: +44 (0) 7770 865 341

 

Alexander Mining plc

Tel: +44 (0) 20 7078 9566

Email: mail@alexandermining.com

Website: www.alexandermining.com

 

Cairn Financial Advisers LLP

Sandy Jamieson/James Caithie

Tel: +44 (0) 20 7213 0880

 

Turner Pope Investments (TPI) Ltd.

Andy Thacker

Zoe Alexander

Tel: +44 (0) 20 3657 0050

 

 

 

 

 


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