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Tri-Star Resources Plc - Temporary Suspension

·2-min read

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
David Facey, CEO/ CFO

c/o SBP
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.