URA Ura Holdings

TIDMURA

RNS Number : 0420A

Uranium Resources PLC

21 December 2017

21 December 2017

URA Holdings plc

("URA" or "the Company")

Completion of Placing and New Strategy

Further to the announcements of 20 December 2017, the Company is pleased to announce the admission of the New Ordinary Shares to trading on AIM. As previously notified, the Company has raised GBP900,000 in new equity at a placing price of 0.45p.

New Strategy

As announced yesterday, Melissa Sturgess and Peter Redmond have joined Alex Gostevskikh on the Company's board of directors. Melissa and Peter have many years of experience working with and re-structuring AIM-quoted companies. Their appointments reflect the Company's new strategy to acquire a substantial business that will deliver strong capital growth and/or earnings.

Melissa was most recently a key driver in the successful recapitalisation of Messaging International plc during 2016. Messaging International (now renamed SigmaRoc plc) successfully acquired a building materials business via a reverse takeover and raised GBP50 million from a range of institutional and private investors.

Peter was a founder director of Cleeve Capital plc (now Satellite Solutions Worldwide Group plc) and Mithril Capital plc (now Be Heard Group plc), both quoted on AIM, and took a leading role in the reconstruction and refinancing of AIM-quoted Kennedy Ventures plc and 3Legs Resources plc (now SalvaRx Group plc) and a number of other transactions, all of which have been completed successfully.

Melissa Sturgess, Director, commented: "Peter and I look forward to identifying a suitable opportunity for URA. We have both participated in the capital raising and have been very encouraged by the high level of support we have received from the incoming shareholders. While it would have been possible to raise considerably more funds than we did, we believe that GBP900,000 is sufficient to achieve our objective of identifying a really interesting opportunity for the Company."

Capitalised terms not otherwise defined, shall have the same meanings as set out in the circular sent to Shareholders on 4 December 2017 which is available on the Company's website.

Enquiries

 
 Melissa Sturgess   URA Holdings Plc           Tel: +44 (0)207 
  / Peter Redmond                                     920 3150 
 
 Matthew Johnson    Northland Capital          Tel: +44 (0)203 
  / David Hignell    Partners Ltd                     861 6625 
 
 Lucy Williams      Peterhouse Corporate       Tel: +44 (0)207 
  / Heena Karani     Finance Ltd                      469 0931 
 Jos Simson         Tavistock (Financial       Tel: +44 (0)207 
  / Annabel          and Investor Relations)          920 3150 
  de Morgan 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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