16 Jul 2007 07:00
Maghreb Minerals PLC16 July 2007 MAGHREB MINERALS Plc Additional Fundraising Maghreb Minerals Plc ("Maghreb" or the "Company"), the AIM-quoted explorationcompany developing base metal and industrial mineral deposits in North Africa,announces that it has completed a placing raising approximately £242,000 at 7pence per share (the "Placing"). The Placing follows on from the £2.6 million fundraising announced on 5 June2007 and satisfies the extra institutional demand which could not be met at thetime due to the then existing power to allot shares for cash being insufficientto allow the issue of the requisite number of shares to meet the extra demandfor Maghreb shares. The proceeds of the Placing will be used for the samepurposes as outlined in the announcement dated 5 June 2007. The Placing will comprise 3,457,142 ordinary shares representing approximately3.8 per cent. of the enlarged share capital of the Company (the "PlacingShares"). It is expected that dealings in the Placing Shares will commence at8.00 a.m. on 20 July 2007. The total number of ordinary shares in issue following admission of the PlacingShares will be 91,033,981. ENQUIRIES: Maghreb Minerals Plc Tel: +44 (0) 20 7556 7038Gordon Riddler, Executive Chairman Hanson Westhouse Limited Tel: +44 (0) 20 7601 6100Tim Metcalfe / Anita Ghanekar Bankside Consultants Tel: +44 (0) 20 7367 8888Michael Padley / Michael Spriggs This information is provided by RNS The company news service from the London Stock Exchange