TIDMPRS

RNS Number : 2675G

Paternoster Resources PLC

19 November 2015

19 November 2015

Paternoster Resources plc

("Paternoster" or the "Company")

Investment in New World Oil and Gas plc ("New World")

Paternoster is pleased to announce that the resolutions to appoint your chairman and Adam Reynolds to the board of New World have been passed at the New World AGM. On 18 September 2015, Paternoster acquired 366,618,383 shares in New World at a price of 0.07 pence per share, for an aggregate consideration of GBP256,688. This represents a shareholding in the company of 8.0%.

Nicholas Lee, Chairman said

"The company's share price has already responded positively and I am very much looking forward to working with the board of New World to develop and implement a clear strategy for the company going forward in order to generate value for all shareholders."

For more information please contact:

 
 Paternoster Resources 
  plc: 
 Nicholas Lee, Chairman 
  Matt Lofgran, Non-Executive    +44 20 7580 7576 
  Director                        +1 480 993 8933 
 
 
 Nominated Advisor and 
  Joint Broker: 
 Westhouse Securities 
 Antonio Bossi/David Coaten    +44 20 7601 6100 
 
 
 Joint Broker: 
 Peterhouse Corporate Finance 
 Lucy Williams                   +44 20 7562 3351

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

November 19, 2015 03:26 ET (08:26 GMT)

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