Richland Resources Ltd Extension and Amendment to Option Agreement (7452X)
23 Dicembre 2019 - 8:00AM
UK Regulatory
TIDMRLD
RNS Number : 7452X
Richland Resources Ltd
23 December 2019
23 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, 2 December 2019, 9
December 2019 and 16 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 20
December 2019 until 31 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, 19 August and
16 December 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 31
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
+44 (0) 20 7 409 3494 Finance)
+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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