European Nickel PLC
Repayment of Endeavour Loan and Issue of Equity
LONDON, 9 February 2010 - Further to the announcement of 2 February 2010 of its
placing to raise US$19.4 million (the "Placing"), European Nickel PLC ("European
Nickel" or the "Company") (AIM, PLUS: ENK), confirms that, on 8 February 2010,
the Company repaid the US$5 million loan provided by Endeavour Financial
Corporation ("Endeavour") to the Company as previously announced on 27 July
2009 and as increased on 8 December 2009.
The Company has also applied for a further 1,345,571 new ordinary shares (the
"Endeavour Shares") to be admitted to trading on the AIM market of the London
Stock Exchange plc and trading is expected to start at 8.00 a.m. on Friday, 12
February 2010. As previously announced, these shares will be issued to
Endeavour in lieu of interest on the loan facility provided to the Company. The
Endeavour Shares will be issued credited as fully paid and will rank pari passu
with the existing ordinary shares in the capital of the Company, including the
right to receive all dividends and other distributions declared, made or paid
on or in respect of such shares after the date of issue of the Endeavour Shares.
Following the issue of the Endeavour Shares and the 76,300,000 ordinary shares
issued on 8 February 2010 under the first tranche of the Placing, the issued
ordinary share capital of the Company as of 8.00 a.m. on 12 February 2010 will
be 548,373,428 shares, each having equal voting rights and which represents the
total number of voting rights in the Company.
For more information, please visit:www.enickel.co.uk <
http://www.enickel.co.uk/>
or contact:
Andrew Lindsay, European Nickel
Tel: 020 7290 3130
Mike Jones or Andrew Chubb, Canaccord Adams
Tel: 020 7050 6500
Alex Buck, BuckBias
Tel: 07932 740 452
[HUG#1381973]