Tri-Star Resources Plc Temporary Suspension
September 30 2020 - 2:36AM
UK Regulatory
TIDMTSTR
Tri-Star Resources PLC / AIM: TSTR / Sector: Natural Resource
30 September 2020
Tri-Star Resources plc ("Tri-Star" or the "Company")
Temporary suspension of trading on AIM pending publication of annual accounts
Tri-Star Resources plc (AIM: TSTR), the minerals processing company, announces
that the Company will be unable to publish its audited annual report and
accounts for the year ended 31 December 2019 (the "Final Results") by 30
September 2020, as required by Rule 19 of the AIM Rules for Companies ("AIM
Rules") and the three month extension granted due to events associated with the
Covid-19 pandemic.
The delay in publication of the Final Results is due to the ongoing discussions
between SPMP and its shareholders to reach a settlement agreement to provide
greater certainty of funding for SPMP, redress the imbalance of the amounts
invested by the three shareholders to date and to provide certainty over
Tri-Star's shareholding going forward with no further need for Tri-Star to
finance SPMP ("Settlement Agreement"). Whilst there can be no certainty over
the terms of the Settlement Agreement at this stage, these negotiations are at
an advanced stage and upon completion of such an agreement, and, whilst the
audit is ongoing, the Company expects to be able to sign off its audited
accounts on an unqualified basis.
Due to the delay in publishing of the Company's Final Results, dealings in the
Company's ordinary shares will be temporarily suspended from trading on AIM
under AIM Rule 40, with effect from 7.30 a.m. on 1 October 2020 until such time
as the Final Results have been duly published in compliance with AIM Rule 19.
Notwithstanding the temporary suspension of trading in the Ordinary Shares, the
Company will continue to make announcements as and when there are any
developments that require announcement under the AIM Rules.
Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No. 596/
2014 until the release of this announcement.
**ENDS**
For further information, please visit www.tri-starresources.com or contact:
Tri-Star Resources plc c/o SBP
David Facey, CEO/ CFO Tel: +44 (0)20 7236 1177
St Brides Partners (Financial PR)
Isabel de Salis / Beth Melluish Tel: +44 (0)20 7236 1177
SP Angel Corporate Finance (Nominated
Adviser) Jeff Keating/ Caroline Rowe Tel: +44 (0)20 3470 0470
finnCap Ltd (Broker)
Christopher Raggett / Camille Gochez Tel: +44 (0)20 7220 0500
Notes to Editors:
Tri-Star's principal interest is in an antimony and gold production facility
(the "SPMP Project"). The SPMP Project is based in Sohar, Sultanate of Oman,
and is being developed by Strategic & Precious Metals Processing LLC ("SPMP"),
an Omani company in which Tri-Star has a 40% equity interest.
END
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