KMR Kenmare Resources Plc

RNS Number:5110V
Kenmare Resources PLC
3 May 2002


Kenmare Resources plc ("Kenmare" or "the Company")


               Approval of Resolutions at Extraordinary Meeting,

                Completion of Placing and Results of Open Offer




Kenmare Resources plc. announces that all of the resolutions proposed and
considered at its Extraordinary General Meeting (EGM) held today, 3rd May, 2002,
have been approved.


Accordingly, the Placing of 56,950,000 New Ordinary Shares at Stg14p (23c) each
announced on 8th April, 2002 is now unconditional, save for admission.


Kenmare also announces that by 3pm on 2nd May, 2002 valid acceptances under the
Open Offer of 23,881,255 New Ordinary Shares at Stg14p (23c) each ("the Open
Offer") had been received in respect of a total of 6,169,083 million New
Ordinary Shares.


The balance of New Ordinary Shares not applied for by qualifying shareholders
under the Open Offer, being 7,650,000, have now been placed by the Company with
institutional and other investors ("the Rump Placing"). The price at which these
Ordinary Shares have been placed is Stg15.6p per share.


Application for admission of, in aggregate, 70,769,083 New Ordinary Shares
(being the shares issued pursuant to the Placing, the Open Offer and the Rump
Placing) to the Official Lists of the Irish Stock Exchange and the UK Listing
Authority has been approved, and dealing is scheduled to commence therein on the
Irish Stock Exchange and the London Stock Exchange on 7th May, 2002.


CREST accounts are expected to be credited in respect of the Open Offer shares
no later than 10th May, 2002. For shareholders holding their shares in
certificated form, definitive share certificates are expected to be despatched
no later than 13th May, 2002.


Total funds raised pursuant to the Placing, the Open Offer and the Rump Placing
are approximately Stg£10 million (Euro 16 million).


Mr. Charles Carvill, Chairman, commented as follows:


    "I am very pleased to report the approval by our shareholders of the EGM
    resolutions and completion of Kenmare's equity funding. The company will now
    continue project funding and marketing arrangements and I look forward to
    reporting progress on these areas as the project advances."



For further information:

Kenmare Resources plc.
Tony McCluskey, Financial Director
Tel: +353-87-6740346 or +353-1-671 0411

Murray Consultants
Tom Byrne
Tel: +353-1-632 6400 or +353-86-8104224

Blackstone Business Communications
Tim Blackstone
Tel: +44-207-2512544

www.kenmareresources.com

3rd May, 2002



                      This information is provided by RNS
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