Termination of Subscription Agreement
16 März 2009 - 9:43AM
UK Regulatory
TIDMZRL
RNS Number : 8890O
Zambezi Resources Ltd
16 March 2009
16 March 2009
Zambezi Resources Limited
TERMINATION OF SUBSCRIPTION AGREEMENT
Zambezi Resources Limited ("Zambezi" or the "Company") (AIM:ZRL; ASX:ZRL) today
announces that the Company today gave a notice to Astron Ltd ("Astron") to
terminate the subscription agreement dated 28 January 2009 between the Company
and Astron for the issue of 171,000,000 shares at 2 cents per share, which was
the subject of resolution 3 at the Company's general meeting held on 9 March
2009.
Zambezi continues to seek options available to the Company in conjunction with
its advisors and looks to continue negotiations with creditors and other parties
interested in the Company's assets with a view to securing the Company's ongoing
financial position.
Accordingly, Zambezi has requested the ASX grant a suspension of the Company's
securities pursuant to the ASX Listing Rules whilst these discussions are being
concluded. The Company requests the suspension ends on the earlier of either
commencement of normal trade on 1 April 2009 or such time as the anticipated
announcement regarding the above discussions is released to the market.
The Company's shares remain suspended from trading on AIM.
For Further Information please contact:
+---------------------------+--------------------------------+
| Julian Ford, Managing | Simon Edwards / Adam Lloyd |
| Director | Evolution Securities Ltd |
| Zambezi Resources | + 44 20 7071 4300 |
| (Australia) | |
| +61 (08) 9216 9000 | |
| +61 (0) 418 949 580 | |
| | |
+---------------------------+--------------------------------+
| Fiona Owen | |
| Grant Thornton UK LLP | |
| +44 20 7383 5100 | |
| | |
+---------------------------+--------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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