Completion of Listing of Sunkar on the Kazakhstan Stock ExchangeM2 Communications
ENP Newswire - 11 December 2012
Release date- 07122012 - Sunkar Resources plc. (AIM: SKR) is pleased to announce that, following the Kazakhstan Stock Exchange Listing Commission's decision on 30 November 2012, to accept the listing of Sunkar's issued share capital to KASE, the Company's ordinary shares of 0.1 pence each were listed, effective as of today, to the third category of KASE.
The Listing was a pre-condition to the investment by Sun Avenue and Partners Corp ('Sun Avenue').
As announced on 15 October 2012, the Company will now seek permission from the National Bank of Kazakhstan to issue 174,476,283 new Ordinary Shares ('New Shares') to Sun Avenue upon the conversion in full of the US$12.8 million convertible loan notes ('Convertible Loan Notes') held by it.
The commencement of trading in the New Shares on KASE and on AIM will be announced in due course, following receipt of the aforementioned permission and the conversion by Sun Avenue of the Convertible Loan Notes. Jazz Capital JSC, a Kazakhstan based brokerage firm, is acting as financial adviser and broker to the Company in respect of the Listing, while the Company's Registrar, Capita Registrars Limited (UK), is acting as transfer agent.
Sunkar Resources plc
Teck Soon Kong
Tel: +44 20 7930 8678
Strand Hanson Limited
Tel: +44 20 7409 3494
Tel: +44 20 7367 8888
Sunkar Resources plc, through a wholly owned subsidiary Temir Service LLP, operates a phosphate rock mine in Aktobe Oblast, North West Kazakhstan. Temir Service LLP holds a Subsoil Use Contract to part of the Chilisai Phosphate Rock Deposit. The contract area is estimated to contain 800 Mt of phosphate ore.
Sunkar's strategy is to build a world class integrated ammoniated phosphate fertilizer plant with low operating costs. Sunkar's low cost base derives from its near surface phosphate rock deposit, access to sulphur from the nearby North Caspian oil and gas fields.
[Editorial queries for this story should be sent to email@example.com]
((Comments on this story may be sent to firstname.lastname@example.org))