Metals Exploration Plc
14�Sep�2005
Placing of New Ordinary Shares
Kerman & Co LLP advised Metals Exploration Plc on its placing of 15.625 million new ordinary shares at 8p per share to raise �1.25 million before expenses through WH Ireland Limited.� The shares were issued with one warrant for every two placing shares, exercisable at 20p per share over a two year period.
The placing will enable Metals to advance its exploration projects in the Philippines, including drilling operations at its Runruno project and continued exploration work at its Masapelid and Puray projects, and provides additional working capital.
The Kerman & Co team was led by Nicholas Narraway, assisted by Joan Yu.
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