Niger Uranium AIM Admission

Kerman & Co advises Niger Uranium on AIM Admission

Niger Uranium Limited, a company incorporated in the British Virgin Islands, was successfully admitted to trading on AIM on 12 September 2007 with a market capitalization of £40 million.

The Company was incorporated to consider and develop uranium projects worldwide and will focus initially on the State of Niger. Niger has been mining uranium since 1971 and past production from Niger's two operating mines exceeds 100,000 tonnes of uranium to the end of 2006.

Prior to admission, Kerman & Co acted for the company on the acquisition of the Nigerien exploration properties of NWT Uranium Inc (“NWT”) for cash and shares, and the Nigerien exploration properties of UraMin Inc (“UraMin”) together with cash for shares in the Company. The combined exploration prospects (the “Properties”) cover a total of 1,673,644 acres (equivalent to 6,773 square kilometres) and are all located in the Tim Mersoi basin in Niger.

Keith Dempster, a Partner at Kerman & Co, was particularly satisfied with the outcome:

“The deal involved a complex admission.   The Company initially had to acquire the Properties from NWT and UraMin for cash and shares, with such transfers being subject to the approval of Minister of Mines for Niger.  The shares granted to UraMin were then the subject of a dividend in specie to the existing UraMin shareholders.  The Kerman & Co team co-ordinated lawyers working on the transaction in London, Paris, Canada, South Africa and Niger.  The Firm once again demonstrated its AIM expertise and its capacity to handle complex transactions involving a number of different jurisdictions.”