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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Alexander Mining plc    AXM   GB00B06K1665

ALEXANDER MINING PLC

(AXM)
Delayed Quote. Delayed London Stock Exchange - 11/29 02:30:00 am
0.0275 GBp   --.--%
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Alexander Mining : New Strategy

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09/25/2019 | 02:33am EST

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

Disclaimer

Alexander Mining plc published this content on 25 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2019 06:32:02 UTC

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Managers
NameTitle
Martin L. Rosser Chief Executive Officer & Executive Director
Alan Mitchell Clegg Non-Executive Chairman
John Getty Chief Financial Officer & Secretary
Garry Johnston Technical Director
James S. Bunyan Non-Executive Deputy Chairman
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