Richland Resources Ltd Further Extension to Amended Option Agreement (0756W)
December 09 2019 - 2:00AM
UK Regulatory
TIDMRLD
RNS Number : 0756W
Richland Resources Ltd
09 December 2019
9 December 2019
Richland Resources Ltd
("Richland" or the "Company")
Further Extension to Amended Option Agreement's Longstop
Date
to sell the Capricorn Sapphire Project
Richland (AIM: RLD), further to its announcements of 18 July, 22
July, 19 August, 31 October, 18 November and 2 December 2019 in
relation to its transaction with Fura Gems Inc. ("Fura"), pursuant
to which Fura has exercised its option (the "Option") to
conditionally acquire from the Company: (i) all of the issued
shares of its wholly owned subsidiary Richland Corporate Ltd
("Richland Corporate") (the "Shares"); and (ii) all of the
Company's loans to Richland Corporate (the "Shareholder Loan")
(together, the "Option Assets") (the "Proposed Disposal"),
announces that the longstop date in respect of the Amended Option
Agreement has been extended from 7 December 2019 until 14 December
2019 (the "Revised Longstop Date"). Further details of the Proposed
Disposal are set out in the Company's announcements of 27 June, 18
July, 22 July and 19 August 2019.
The Revised Longstop Date will enable the parties to finalise
the remaining legal formalities in relation to the completion of
the Proposed Disposal.
As previously announced on 27 June 2019, the maturity date of
the Secured Convertible Loan Facility was extended to the Longstop
Date such that the new maturity date for the facility is now 14
December 2019, as agreed with the provider of the facility.
A further announcement(s) will be made, as appropriate, in due
course.
Capitalised terms used in this announcement, unless otherwise
defined herein, have the same meanings as set out in the Company's
announcement of 27 June 2019.
For further information, please contact:
Anthony Brooke Edward Nealon Mike Allardice
Chief Executive Officer Chairman Group Company Secretary
+66 81 854 1755 +61 409 969 955 +852 91 864 854
Nominated Adviser Broker
Strand Hanson Limited Peterhouse Capital Limited
James Harris Duncan Vasey / Lucy Williams
Matthew Chandler (Broking)
James Bellman Eran Zucker (Corporate Finance)
+44 (0) 20 7 409 3494 +44 (0) 20 7 469 0930
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
Note to Editors:
Further information is available on the Company's website:
www.richlandresourcesltd.com. Neither the contents of the Company's
website nor the contents of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into, or forms part of, this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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