Hunter Resources PLC Update on Suspension (2049D)

TIDMHUN

RNS Number : 2049D

Hunter Resources PLC

05 July 2016

5 July 2016

Hunter Resources plc

("Hunter" or the "Company")

(AIM: HUN)

Update on Suspension

Further to the Company's announcement of 30 June 2016 (the "Announcement"), the board of directors of the Company (the "Board") confirms that as a result of the Arbitration not having been successfully concluded by 4 July 2016, trading in the Company's Ordinary Shares on AIM have been suspended with effect from 07.30 today, 5 July 2016.

Trading in the Ordinary Shares on AIM will remain suspended until the Vendor transfers title of the tenements at Pampamali to HOLDCO and Gold Hunter SAC holds a 51% interest in HOLDCO (together the "Conditions") or another transaction is completed (which would require the Company to publish an admission document). In the event that neither of these are concluded within six months of suspension then the admission to trading on AIM of the Ordinary Shares will be cancelled.

The Board is disappointed that, despite the extensive negotiations with the Vendor which are continuing, it has not yet been possible to reach a mutually acceptable agreement, notwithstanding the Company's best efforts. The Company believes that the Vendor has been unreasonably delaying the transfer of the tenements at Pampamali to HOLDCO for its own benefit.

(All definitions are as per the Announcement unless otherwise specified)

For further information, please contact:

 
Hunter Resources PLC       Allenby Capital Limited 
 Simon Hunt                 (Nominated Adviser and 
 (Chairman)                 Broker) 
 +44 7733 337 755           John Depasquale/Nick Harriss/Nick 
 www.hunter-resources.com   Naylor 
 
                            +44 20 3328 5656 
 
                            www.allenbycapital.com 
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ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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July 05, 2016 02:45 ET (06:45 GMT)

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