Lagan Capital PLC Implementation of Investing Policy (0467L)

TIDMLGN

RNS Number : 0467L

Lagan Capital PLC

30 August 2012

LAGAN CAPITAL PLC

("Lagan" or the "Company")

Implementation of Investing Policy

The Directors are pleased to announce that, following the subscription by various investors for an aggregate of GBP690,741, the Company has invested approximately GBP560,000 in quoted shares and therefore successfully implemented its investing policy. As a result, the suspension of trading in the Company's shares will now be lifted and trading in the Company's shares will resume today at 7.30 a.m.

Further details on investments

The Company has invested approximately GBP560,000 in various mining companies as detailed in the table below.

 
 Company                      Number of shares    Price paid      Investment 
                                     purchased 
 
 Amur Minerals Corporation 
  (LSE:AMC)                          3,493,858          5.2p   GBP181,680.61 
 Highland Gold Mining 
  Limited (LSE:HGM)                    129,800      115.547p   GBP149,980.00 
 Kinross Gold Corporation               11,700      C$8.6115    GBP64,386.39 
  (TSE:K) 
                                                  (550.311p) 
 Rio Tinto plc (LSE:RIO)                 3,590        2,781p    GBP99,837.90 
 Vedanta Resources 
  plc (LSE:VED)                          7,328          887p    GBP64,999.36 
 
 Total                                                         GBP560,884.26

A brief summary of each of the investments is detailed below.

Amur Minerals Corporation

Amur Minerals Corporation is a rapidly-growing mineral resource exploration and development company focused on base metal projects located in the far east of Russia. The company has three properties in the region with its principal asset being the Kun-Manie sulphide nickel, copper project located in Amur Oblast. With a JORC compliant resource of over a quarter of a million tons of contained nickel, Kun-Manie is one of the five largest new nickel sulphide discoveries since Voisey's Bay.

Highland Gold Mining Limited

Highland Gold Mining Limited ("Highland") was incorporated in Jersey on 23 May 2002 for the purpose of acquiring, consolidating and developing a portfolio of quality gold mining projects in the Russian Federation with good growth potential. It is a well-established gold producer with a world class Russian asset base of producing, development and exploration projects. It has strong management and operational teams with local and international expertise and an exciting portfolio of JORC audited resources estimated at 11.11 million oz.

Highland's major activities are located within the Khabarovsk and Zabaikalsky regions of Russia as well as Kyrgyzstan in Central Asia. The company has three operating mines, three development projects and five exploration properties.

Kinross Gold Corporation

Kinross Gold Corporation has a focused portfolio of ten mines located in four key regions: South America, North America, West Africa and Russia. Kinross Gold operates mines and projects in North and South America, Russia, and Africa. In 2011 the company's gold production was 2,610,373 gold equivalent ounces.

Rio Tinto plc

Rio Tinto is a leading international mining group, combining Rio Tinto plc, a London listed public company headquartered in the UK, and Rio Tinto Limited, which is listed on the Australian Stock Exchange, with executive offices in Melbourne. The two companies are joined in a dual listed companies (DLC) structure as a single economic entity, called the Rio Tinto Group.

Vedanta Resources plc

Vedanta Resources plc is a London listed FTSE 100 diversified metals and mining major. The Group produces aluminium, copper, zinc, lead, silver, iron ore, commercial power, and oil and gas. Its businesses are principally located in India, one of the fastest growing major economies in the world. In addition, it has assets and operations in Africa (Zambia, Namibia, South Africa, Liberia), Sri Lanka, Australia and Ireland.

Related Party Transaction

The investment by the Company in Amur Minerals Corporation included the acquisition of 2,211,538 shares at 5.2p from a company of which Michael Nosworthy, who is a director of Lagan, is also a director. Therefore the purchase of shares from Mr. Nosworthy is deemed a related party transaction under the AIM Rules for Companies. Steve Roberts, who is an independent director for the purposes of the transaction, considers, having consulted the Company's Nominated Adviser, Northland Capital Partners Limited, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries:

 
 Michael Nosworthy        Lagan Capital plc               +33 675657274 
 
 Steve Roberts            Lagan Capital plc                 07812043436 
 
                          Northland Capital Partners 
 Luke Cairns / Matthew     Limited 
  Johnson                  (Nomad and Joint Broker)       020 7796 8800 
 
 Peter Greensmith /       Peterhouse Corporate Finance 
  Eran Zucker              Limited (Joint Broker)         020 7796 8800 
 
 Jonathan Anderson        Investor Relations                07950410680

This information is provided by RNS

The company news service from the London Stock Exchange

END

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