TIDMIMCP
Share for Share Exchange
7th March 2014
IMC Exploration Group Plc
("IMC" or the "Company" or the "Group")
Share for Share exchange with Global Resource Investment Trust Plc
IMC is pleased to announce the completion of a share for share exchange agreement with Global Resource Investment Trust Plc ("GRIT"). As part of this agreement, IMC will issue 16 million Ordinary Shares to GRIT at a price of GBP 0.02 pence resulting in GRIT being interested in 23% of the enlarged Issued Share Capital of IMC. In exchange for this issuance IMC will receive 320,000 Ordinary Shares in GRIT at a price of GBP 1 per share and thereby valuing the transaction at GBP 320,000.
Application has been made by GRIT for its Ordinary Shares to be admitted to the premium listing segment of the Official List and for it's Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities with an expected listing date of 7th March 2014.
GRIT has been established to exploit investment opportunities in the junior mining and natural resource sectors worldwide with an investment objective to generate medium and long term capital growth.
Liam McGrattan, Chairman of IMC commenting on the agreement with GRIT said "The Company is delighted to have concluded this agreement with GRIT which demonstrates further confidence in the work conducted to date by IMC. I look forward to working closely with the trust's Chairman Anthony St. John and his board colleagues".
The Directors of the issuer accept responsibility for this announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
LHM Casey McGrath
Mr. Con Casey
Tel. Ireland: +353 1 495 9200
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IMC EXPLORATION GROUP PLC
(END) Dow Jones Newswires
March 07, 2014 02:00 ET (07:00 GMT)
