27 October 2009
Belmore Resources (Holdings) Plc
("Belmore" or "the Company")
Share Placement
The Board of Belmore, a minerals exploration company, is pleased to announce that the Company has placed
4,720,001 new Ordinary Shares of Euro0.01 each at a price of Euro0.07 (£0.063) per share with various
investors for net proceeds of Euro330,400 (£300,003).
The proceeds of the placement will be used for strategic investment purposes and as working capital for the
Company.
Following the placement, the Company has 38,110,201 Ordinary Shares in issue.
The Directors shareholdings following the issue of shares is 9,781,486 Ordinary Shares representing 25.67%
of the issued share capital of the Company.
Starvest Plc holds 5,885,164 Ordinary Shares representing 15.44% of the issued share capital of the
Company. Global Finance and Petroleum Products Inc holds 1,735,183 representing 4.55% of the issued share
capital. Panares Resources Inc of which W. I. L. Forrest is a Director holds 1,428,572 representing 3.75%
of the issued share capital.
Company Chairman, Mr. Ian Forrest commented: "The Board is extremely pleased to have raised this funding.
It is intended that the investment will be applied to further shareholder value in Belmore.
"Progress at our Clare JV prospect is advancing well and Lundin Mining exploration continues to drill at
pace. The Company will provide a drilling update in due course. The Company also continues to evaluate new
investment opportunities."
The above figure may be used by shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or change to their interest in, Belmore under
the FSA's Disclosure and Transparency Rules.
--ENDS--
The directors of the issuer accept responsibility for this announcement
ENQUIRIES:
Belmore Resources (Holdings) Plc Tel: 0035 387 681 2883
Patrick Mahony
Bishopsgate Communications Ltd Tel: 020 7562 3350
Nick Rome/Michael Kinirons
Rivington Street Corporate Finance Tel: 020 7562 3389
Monisha Varadan/Eran Zucker
Belmore Resources (Holdings) plc