HUNTER RESOURCES PLC 5 July 2016
Hunter Resources plc ("Hunter" or the "Company") (AIM: HUN)
Update on SuspensionFurther to the Company's announcement of 30 June 2016 (the "Announcement"), the board of directors of the Company (the "Board") confirms that as a result of the Arbitration not having been successfully concluded by 4 July 2016, trading in the Company's Ordinary Shares on AIM have been suspended with effect from 07.30 today, 5 July 2016.
Trading in the Ordinary Shares on AIM will remain suspended until the Vendor transfers title of the tenements at Pampamali to HOLDCO and Gold Hunter SAC holds a 51% interest in HOLDCO (together the "Conditions") or another transaction is completed (which would require the Company to publish an admission document). In the event that neither of these are concluded within six months of suspension then the admission to trading on AIM of the Ordinary Shares will be cancelled.
The Board is disappointed that, despite the extensive negotiations with the Vendor which are continuing, it has not yet been possible to reach a mutually acceptable agreement, notwithstanding the Company's best efforts. The Company believes that the Vendor has been unreasonably delaying the transfer of the tenements at Pampamali to HOLDCO for its own benefit.
(All definitions are as per the Announcement unless otherwise specified)
For further information, please contact: Hunter Resources PLC Simon Hunt (Chairman)+44 7733 337 755
www.hunter-resources.com
Allenby Capital Limited(Nominated Adviser and Broker)
John Depasquale/Nick Harriss/Nick Naylor
+44 20 3328 5656
www.allenbycapital.com
ENDSHunter Resources plc published this content on 05 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 July 2016 07:45:04 UTC.
Original documenthttp://www.hunter-resources.com/PDF/rns/05072016-Suspension-5-July-2016.pdf
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