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LP Hill

  • BY: Andrew Hore |
  • POSTED: 17/09/2009 |

Spread betting firm Spreadex Ltd has acquired 3.1m shares in shell company LP Hill.

Spreadex owns 13.6% of LP Hill, where Bezant Resources director Gerry Nealon joined the LP Hill board during the summer.  The Spreadex website (www.spreadex.com) does not currently offer any financial instruments relating to LP Hill.

Shares in LP Hill were suspended on 27 August 2009 at 31.5p each. At that price the share capital, enlarged for recent share issues, would be worth £7.17m. A share placing in August 2009 raised £850,000 at 5p a share.

Trading in the shares was suspended because LP Hill had been a shell for 12 months and had not made an acquisition. It has a further six months to find an acquisition or its quotation will be cancelled. It appears likely that LP Hill will be steered in the direction of the mining sector.

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