Oriel Resources plc
TSX : ORL
AIM : ORI

Oriel Resources plc

October 19, 2006 08:42 ET

Oriel Resources Plc-Holdings in Company

LONDON, UNITED KINGDOM--(CCNMatthews - Oct. 19, 2006) - Oriel Resources plc ("Oriel", or the "Company") (TSX:ORL) (AIM:ORI) announces that on 5 October 2006 it received a notification given in fulfilment of the obligations imposed under section 198 of the Companies Act 1985 ("the Act") by Morgan Stanley International Limited ("MSIL") that further to the previous disclosure dated 22 September 2006 relating to Trade Date 1 September 2006, additional disclosure is made by MSIL, being the result of having become aware of a position held by Quilter & Co Limited ("Quilter"). MSIL, composed of those positions held by legal entities Quilter and Morgan Stanley Securities Limited ("MSSL"), acquired an interest in the shares that resulted in the total holding of 22,352,286 ordinary 1 p shares, being approximately 11.00% of the issued share capital of the Company on 1 September 2006. As of Trade Date 1 September 2006 the position of MSIL was as below:

- Quilter held 16,000 ordinary 1 p shares representing 0.01% of the issued share capital of the Company;

- MSSL held 22,336,286 ordinary 1 p shares representing 10.99% of the issued share capital of the Company.

Oriel also announces that on 9 October it received a further notification given in fulfilment of the obligations under section 198 of the Act by MSIL. Following the recent increase in Oriel's issued share capital, MSIL's percentage reduced to 10.97% of the Company (22,352,286 ordinary 1 p shares).

The position of MSIL is held through the entities below:

- Quilter holds 16,000 ordinary 1 p shares representing approximately, once rounded up, 0.01% of the issued share capital of the Company;

- MSSL holds 22,336,286 ordinary 1 p shares representing approximately, once rounded up, 10.97% of the issued share capital of the Company.

MSIL is a member of the Morgan Stanley group of companies. Those group companies which are direct or indirect holding companies of MSIL are, under the terms of section 203 of the Companies Act 1985, each interested by attribution in any shares in which MSIL is interested.

Contact Information

  • Oriel Resources Plc
    David Swan
    Financial Director and Company Secretary
    +44 (0) 20 7514 0590
    or
    Oriel Resources Plc
    Gavin Dallas
    Marketing and PR
    +44 (0) 20 7514 0590
    Website: www.orielresources.com
    or
    Bankside Consultants
    Michael Padley / Michael Spriggs
    +44 (0) 20 7367 8888
    or
    Vanguard Shareholder Solutions
    Keith Schaefer
    (604) 608-0824