ADW Addworth

RNS Number:9663A
Addworth PLC
27 July 2007


Addworth plc ("Addworth")

For immediate release: 27 July 2007


                 Addworth takes 16% stake in Uranium Prospects

Addworth plc (ADW), the AIM and PLUS listed 'active capital investor' is pleased
to announce that it holds a 16.15% equity stake (10,000,200 shares) in Uranium
Prospects plc whose shares were admitted to PLUS this morning.

Uranium Prospects is an investment company that is looking to take stakes in
uranium exploration projects. It has agreed terms in principle to acquire from
Yellowcake plc an option to acquire a 51% stake in the Grease River Project,
located north of the central Athabasca Basin in Northern Saskatchewan, Canada.
Airborne surveys and ground prospecting and mapping by CanAlaska Uranium are
currently taking place on that project in an area which covers an extensive belt
of uranium showings.

Addworth Executive Chairman, Mark Watson-Mitchell commented:

"Our investment in Uranium Prospects gives us access to the lucrative global
uranium exploration sector. Although Uranium Prospects is at an early stage of
its development, we do believe that it has great potential as a company and we
are delighted with Addworth's investment, especially with the discussions
regarding the exciting Grease River Project."


For further details please contact:
Mark Watson-Mitchell, Executive Chairman, on 020 7638 8750. 
www.addworth.co.uk


Notes to Editors

Addworth (ADW) is an 'active capital investor'. Its focus is upon the growth of
capital value and the generation of fee income from: establishing and funding
newly quoted companies on both the AIM and PLUS markets; acquiring and
developing companies with growth potential; and taking minority equity positions
in undervalued smaller listed companies.

In the middle of January 2007 the Company established its own insurance company
in Guernsey, called Risk Transfer. In late January 2007 it also floated Oil and
Gas Support Services Plc on PLUS Markets, a special purpose acquisition company
planning to acquire companies providing services to the global oil and gas
sector. In late March it floated Gaming Ventures Plc, an investor in the mobile
and online gaming sector.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
ACQPUURWMUPMGMQ

Addworth (LSE:ADW)
Historical Stock Chart
From Apr 2024 to May 2024

Addworth (LSE:ADW)
Historical Stock Chart
From May 2023 to May 2024