Issue of Equity (4906H)

TIDMQRES

RNS Number : 4906H

Q Resources Plc

31 May 2011

Q Resources PLC

Issue of Equity

31 May 2011

Q Resources Plc ("QRES" or "Company") announces that 11,010,165 new Ordinary Shares have been allotted and issued pursuant to the exercise of the same number of warrants (the "2010 Warrants") at the placing price of 6p (the "Placing Price") under the warrant instrument dated 31 March 2010 (the "2010 Warrant Instrument"). This has resulted in a remittance of funds to the Company of a total of approximately GBP660,610.

A total of 13,645,833 2010 Warrants were granted to subscribers for placing shares on the basis of one 2010 Warrant for every four placing shares subscribed (rounded down to the nearest whole number of 2010 Warrants) as detailed in the Company's Admission Document dated 1 April 2010.

Each 2010 Warrant entitled the holder to subscribe for one Ordinary Share at the Placing Price at any time up to the first anniversary of Admission, being 9 April 2011 (subject to the terms of the 2010 Warrant Instrument). The balance of 2,635,668 2010 Warrants have now lapsed under the terms of the 2010 Warrant Instrument.

Application has been made to the London Stock Exchange for 11,010,165 new Ordinary Shares of no par value to be admitted to trading on AIM. Admission of the 11,010,165 new Ordinary Shares to trading will become effective when the suspension of its Ordinary Shares to trading on AIM is lifted.

Following the issue of the 11,010,165 new Ordinary Shares as detailed above, the Company's issued share capital now consists of 65,593,500 ordinary shares of no par value with voting rights. The Company holds no ordinary shares in treasury.

For further information contact:

Smithfield Consultants Limited

Financial PR

Alex Simmons

+44 (0)20 7360 4900

Fairfax I.S. PLC

Nomad and Broker

Ewan Leggat/Katy Birkin

+44 (0)20 7598 5368

Notes to Editors

About Q Resources

Q Resources is a newly incorporated Jersey public limited company which has been established for the purpose of identifying and acquiring, or making investments in Resources assets. Q Resources is seeking to make a sizeable acquisition, which will require Shareholder approval. The Company may acquire either operating, or close to operating, assets or licences. The Company's strategy is to take advantage of opportunities to acquire assets that need capital and possess potentially valuable resources and operations with an initial focus on the African region.

For further information please visit www.qresourcesplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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