Receipt of Termination Notice
March 11 2009 - 4:32AM
UK Regulatory
TIDMZRL
RNS Number : 6660O
Zambezi Resources Ltd
11 March 2009
11 March 2009
Zambezi Resources Limited
RECEIPT OF TERMINATION NOTICE
Zambezi Resources Limited ("Zambezi" or the "Company") (AIM:ZRL; ASX:ZRL)
announces that the Company today received a notice from Astron Ltd ("Astron")
purporting to terminate the subscription agreement dated 28 January 2009
between the Company and Astron for the issue of 171,000,000 shares at 2 cents
per share, which was the subject of resolution 3 at the Company's general
meeting held on 9 March 2009. Zambezi regards the notice received from Astron
as a repudiation of the subscription agreement.
Zambezi remains ready and willing and able to complete pursuant to the
subscription agreement.
Accordingly, Zambezi has requested the ASX grant a suspension of the Company's
securities pursuant to the ASX listing rules pending resolution or clarification
of the dispute. Zambezi is not aware of any reason why the securities should not
be suspended.
The Company's shares remain suspended from trading on AIM.
For Further Information please contact:
+---------------------------+--------------------------------+
| Julian Ford, Managing | Simon Edwards / Adam Lloyd |
| Director | Evolution Securities Ltd |
| Zambezi Resources | + 44 20 7071 4300 |
| (Australia) | |
| +61 (08) 9216 9000 | |
| +61 (0) 418 949 580 | |
| | |
+---------------------------+--------------------------------+
| Fiona Owen | |
| Grant Thornton UK LLP | |
| +44 20 7383 5100 | |
| | |
+---------------------------+--------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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