Anglo Pacific Group PLC: Interim Management Statement
08.11.2013 | Marketwire
LONDON, UNITED KINGDOM -- (Marketwired - Nov 8, 2013) - Anglo Pacific Group PLC ("Anglo Pacific", the "Group" or the "Company") (LSE: APF) (TSX: APY) today releases its interim management statement for the period July 1, 2013 to November 7, 2013.Highlights
* Royalty income in the third quarter of GBP3.2m (Q3 2012: GBP5.0m), driven by royalty income from Kestrel
* Cash and cash equivalents of GBP13.0m as at September 30, 2013 (GBP16.4m at June30,2013)
* Appointment of Julian Treger and Mark Potter as Chief Executive Officer and Chief Investment Officer respectively, and election onto the Board
* Issue of 1,282,049 new ordinary shares in the Company for total proceeds of GBP2.5m
* Announcement of strategic co-investment agreement with FlowStream Commodities Ltd, as part of an oil and gas royalties and streaming venture
Julian Treger, Chief Executive Officer of Anglo Pacific, commented: "The Company remained profitable in the third quarter with steady income from Kestrel. Given that 2013 to date has been a challenging period for commodities and the mining sector, we are encouraged by our performance. We are also pleased to have partnered with FlowStream, whose expertise and deal flow in the oil & gas sector will prove invaluable as we seek to further diversify into cash producing assets."
For further information:
Anglo Pacific Group PLC +44 (0) 20 3435 7400
Julian Treger - Chief Executive Officer
Mark Potter - Chief Investment Officer
Georgia Vranaki - Head of Marketing and IR
Kevin Flynn - Chief Financial Officer
Website: www.anglopacificgroup.com
Liberum Capital +44(0) 20 3100 2000
Chris Bowman / Ryan de Franck / Bell Pottinger +44(0) 20 7861 3232
Lorna Spears / James MacFarlane
Notes to editors:
About Anglo Pacific Group PLC
Anglo Pacific Group PLC is a global natural resources royalties company. The Company's strategy is to expand its mineral royalty interests in long-life assets. The Company achieves this through both direct acquisition and investment in projects at the development and production stage. It is a continuing policy of the Company to pay a substantial proportion of these royalties to shareholders as dividends.
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