Baobab Resources plc Stock Market Press Releases and Company Profile

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Strategic Investment at a Premium to Market From Major Shareholder
Strategic Investment at a Premium to Market From Major Shareholder

London, Oct 14, 2013 AEST (ABN Newswire) - Baobab Resources Plc (googlechartLON:BAO)is pleased to announce the continued support by its cornerstone shareholder, African Minerals Exploration & Development SICAR SCA ('the Fund'), through a significant investment at a 15% to the prevailing market.

Commenting today, Jeremy Dowler, Baobab's Chairman, said: 'The Company is very pleased to receive such a firm show of support from its principal shareholder in what is a challenging market. Not only is the placing at a significant 15% premium, but also signals the Fund's strong belief in the Company's immediate and longer term prospects.

'The first tranches of funding enable Baobab to accelerate key components of the bankable feasibility study this year, which will address and mitigate areas of perceived risk and optimise flow sheets. Looking forward, the proposed structure will also provide a mechanism to underwrite the remaining work programme, ensuring a premium to any future transactions. Baobab's board of directors therefore unanimously recommend the terms of the placement to shareholders.'

To view the announcement, please visit:
http://media.abnnewswire.net/media/en/docs/76041-bao_20131011.pdf


About Baobab Resources plc

Baobab Resources plc (LON:BAO)Baobab Resources plc (LON:BAO) is a Mozambican-focused explorer with a large landholding in the central north of the country. The company's flagship project is the Tete iron ore deposit.

abnnewswire.com 


Contact

Ben James:
Managing Director
Tel: +258 21 415 200

Jeremy Dowler:
Chairman
Tel: +44 1372 450529

Frank Eagar:
CFO
Tel: +258 21 415 200

Grant Thornton UK LLP
Philip Secrett | David Hignell | Jamie Barklem
Tel: +44 20 7383 5100

Shore Capital Stockbrokers
Jerry Keen | Toby Gibbs
Tel: +44 20 7468 7964

Fortbridge Consulting
Matt Beale
Tel: +44 7966 389 196



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