STANELCO Plc>>THE LATEST INFORMATION.

RE.....V11SLR - 30 Dec'03 - 20:29 - 2912 of 2918
"Genius?john55a, Please explain to me how an open offer can be over-subscribed.
Andy M"

Simple Andy....read this RNS from CMR recently.....look out for the bit that says "the Open Offer has been over-subscribed" and that should answer your question and that is what BRPG shoud have had in their RNS but as we know it was "under subscribed" as nearly half the shares available to qualifying shareholders were snubbed by them.


CAMBRIDGE MINERAL RESOURCES plc
RESULT OF PLACING AND OPEN OFFER
On 6 October 2003, Cambridge Mineral Resources plc announced a Placing and Open
Offer of 58,823,529 New Ordinary Shares at 8.5p per share, together with
29,411,765 Warrants to subscribe for Ordinary Shares at an exercise price of 12p
per Warrant, to raise £5 million (before expenses). Pursuant to the Open Offer,
Qualifying Shareholders were invited to apply for New Ordinary Shares on the
basis of 1 New Ordinary Share for every 10 Existing Ordinary Shares held, with
an excess application facility.

Result of the Open Offer
A total of 7,617,212 New Ordinary Shares were available for subscription under
the Open Offer, which closed at 3.00pm on 27 October 2003. The Company
announces that valid applications from Qualifying Shareholders, including excess
applications, have been received for more than 7,617,212 New Ordinary Shares.
Consequently, the Open Offer has been over-subscribed and excess applications
will therefore be scaled back accordingly.

The Placing and Open Offer are conditional, inter alia, on the passing of the
resolution which is to be proposed at the extraordinary general meeting of the
Company to be held on 29 October 2003.

Application will be made for the New Ordinary Shares to be admitted to trading
on the Alternative Investment Market of the London Stock Exchange and dealings
are expected to commence on 31 October 2003.