28 September 2012
Colombian Mineral Resources Plc
("CMR" or the "Company")
Clarification Regarding Placing of 27,500,000 Ordinary Shares
The Directors of Colombian Mineral Resources Plc wish to issue the following clarification in respect of the
placing of 27,500,000 Ordinary Shares of Euro 0.001 each at GBP 0.35 (Euro 0.425) per share to Nordkapp
Inversiones Sociedad de Valores, S.A., ("Nordkapp") as incorporated within the Admission Document published by
the company pursuant to its admission to trading of the Ordinary Shares on the PLUS-Quoted Market, such trading
having commenced on 28th March 2012.
On 28th March 2012 Nordkapp informed the company that they were not in a position to pay GBP 9,625,000 to CMR
in fulfillment of their obligations under the aforementioned placing. The company sought the immediate return
of the 27,500,000 placing shares from Nordkapp and was successful in doing so.
The Directors identified a substitute placee, namely Aerospace & Defence Partners Limited ("ADP") who not only
agreed to fulfill the obligations under the previous placing agreement but at a higher placing price of GBP
0.38 (Euro 0.46) per share and also agreed to pay interest to the Company at Euribor plus 5% in respect of all
monies due under the revised placing agreement, in the event of any delay in the payment of the placing funds
to CMR. The new agreement entered into by the company and ADP allows for the payment of the placing proceeds in
six consecutive quarterly payments in arrears, commencing on 4th April 2012. The first principal payment being
GBP 1million followed by five equal principal payments of GBP 1.89 million, some or all of which can be paid in
advance and in addition any interest that may become payable under the revised placing agreement. ADP is one
of the investment vehicles of a major Spanish institution with over 4,500 members. To date all amounts due on
foot of this revised placing agreement have been received.
As disclosed in the Admission Document ADP had an interest in 5,000,000 (3.632%) of the Ordinary Shares in CMR
at the date of admission to trading and following its assumption of the placing obligations of Nordkapp and the
transfer of the 27,500,00 Ordinary Shares to ADP, this interest increased to 23.61%. The Chairman of CMR, Mr.
Ignacio María Ozcariz Arraiza, is a Director and a member of, but not a shareholder of ADP and consequently
has an indirect non-beneficial interest in the shares placed with ADP under the revised placing agreement, and
therefore is considered to be a related party in the context of this announcement.
The Directors consider the new placing arrangement to be of considerable benefit to the company and remain
confident that on foot of this revised placing agreement, the company has access to adequate working capital
sufficient to meet its planned expenditure and ongoing commitments for a period of at least twelve months from
the date of admission (28th March 2012) to trading on PLUS-Quoted Market.
The Directors of the Company accept responsibility for the announcement.
Colombian Mineral Resources Plc Tel: +34 91 590 2619
Ignacio María Ozcariz Arraiza - Chairman
LHM Casey McGrath Tel: +353 1 495 9200