DMR Dimension Res.S

RNS Number:4377K
Dimension Resources Ld
11 May 2000


Dimension Resources Limited

In a circular to shareholders dated 8 March 2000 it was noted
that certain directors of Dimension had not drawn their
remuneration since 30 September 1998, and that such unpaid
remuneration would not be paid in cash but settled by an
allotment of ordinary shares in Dimension at the same price as
for a proposed placing. This was subject to a capital
reorganisation approved at an extraordinary general meeting held
on 31 March 2000, and the subsequent placing of 16,666,667
ordinary shares of 1p each at 6p per share.

For this reason, ordinary shares were allotted on 11 May 2000 as
shown below at 6p per share (the placing price):

Director               Unpaid salary     Shares at 6p    Total Shares held 
Vince Panaia               #52,500        875,000        1,375,000 
Paolo Giovannangeli        #45,000        750,000        1,250,000 

Each of the allottees has agreed not to sell these new shares
before 31 March 2001.

Application will be made for these shares to be admitted to
trading on AIM.  Admission is expected on 19 May 2000.

Under the same circumstances, Brian Moritz, also a director, has
been granted an option to subscribe for 750,000 ordinary shares
at 6p per share at any time between 1 April 2001 and 31 March
2006.


Contacts: Vince Panaia (Dimension) - 0027 21 852 8349
          Gerry Beaney (Grant Thornton - nominated adviser) - 020 7383 5100

END

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