Disposal of Investment
21 August 2003 - 4:30PM
UK Regulatory
RNS Number:9298O
Resurge PLC
21 August 2003
For Immediate Release 21 August 2003
RESURGE PLC
('Resurge' or the 'Company')
Disposal of investment in Strongbow Resources Inc ('Strongbow')
for #0.53 million
Resurge is pleased to announce that it has completed the disposal of its
3,660,000 ordinary shares in Strongbow for #525,000, realising a gain on its
investment of #295,000. Resurge acquired its holding in Strongbow on 29th
November 2002 for #229,000 and was granted 1,045,715 warrants at Canadian Cents
40.00 each. The warrants are being retained until December 2004.
Jonathan Rowland, commenting on the disposal said:
"We are delighted that we have realised a significant gain on this investment,
equivalent to 117% over the period. We continue to retain the warrants which
could realise further value in December 2004. Again Resurge has generated a good
return in a short period of time, and in the process has assisted Strongbow in
reaching it's goal of re-organisation."
For further information:
Jonathan Rowland, Joint Managing Director
Jamie Constable, Joint Managing Director
Resurge PLC 020 7233 4270
Richard Darby, Bobbie Swanson
Buchanan Communications 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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