RNS Number : 6424F
Carlton Resources PLC
15 January 2010
Carlton Resources plc
("Carlton" or the "Company")
Extension of option
Carlton announced on 14 December 2009 that it had entered into an option agreement to acquire all of the shares in Tobon Tondo suarl ("Tobon"), a Malian incorporated company holding highly prospective gold exploration interests in Mali.
The option granted pursuant to the option agreement was due to expire on 31 January 2010, but Carlton is pleased to announce that it has agreed to extend the exercise of the option agreement to 28 February 2010 to allow the Company to finalise its due diligence process.
The Company also notes that its trading facility on AIM would ordinarily have been suspended on 11 January 2010 pursuant to Rule 15 of the AIM Rules for Companies. The Company has been advised that its trading facility will be restored on the day following a general meeting at which a reverse acquisition is approved by the Company's shareholders, and not on the posting of an admission document regarding a reverse acquisition.
If the Company does not complete a reverse acquisition by 11 July 2010 its listing on AIM will be cancelled in accordance with Rule 41 of the AIM Rules for Companies. The work required to produce an admission document to achieve a relisting of the Company would essentially mirror that required for a readmission in the current circumstances, and in any event the Board is confident of completing an acquisition well within the above timeframe. The Board expects to provide shareholders with a further update in due course.
For further information, please contact:
Carlton Resources Plc Tel: +44 75 4989 2425
Mark Burchnall (Chief Executive)
Strand Hanson Limited (Nomad) Tel: +44 20 7409 3494
Warren Pearce/Paul Cocker
Ambrian Partners Limited (Broker) Tel: +44 20 7634 4722
Shaun Whyte
Conduit PR (Press enquiries) Tel: +44 20 7429 6604
Charlie Geller / Leesa Peters
This information is provided by RNS
The company news service from the London Stock Exchange
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