Oriel Resources plc

Oriel Resources plc

December 18, 2006 07:30 ET

Oriel Resources Plc: Holding's' in Company

LONDON, UNITED KINGDOM--(CCNMatthews - Dec. 18, 2006) - Oriel Resources plc ("Oriel", or the "Company")(TSX:ORL)(AIM:ORI), the London-based chrome and nickel mining and processing company, announces that on 12 December 2006 it received a notification given in fulfilment of the obligations imposed under section 198 of the Companies Act 1985 ("the Act") by Allianz SE and subsidiaries, including Dresdner Bank AG London Branch ("Dresdner") (as detailed below) that following a recent increase of ordinary issued share capital of Oriel Resources Plc, Dresdner no longer holds a disclosable interest in the Company.

Dresdner is a direct subsidiary of Allianz Finanzbeteiligungs GmbH ("Allianz Finanz") which is itself a direct subsidiary of Allianz SE. As a result of s203(2) of the Act, Allianz SE and Allianz Finanz are no longer interested in Oriel Resources Plc ordinary shares in which Dresdner were interested.

Contact Information

  • Oriel Resources Plc
    David Swan
    Company Secretary
    +44 (0) 20 7514 0590
    Oriel Resources Plc
    Gavin Dallas
    Marketing and PR
    +44 (0) 20 7514 0590
    +44 (0)20 7514 0591 (FAX)
    Email: info@orielresources.com
    Website: www.orielresources.com
    Bankside Consultants
    Michael Padley / Michael Spriggs
    +44 (0) 20 7367 8888
    Vanguard Shareholder Solutions
    Keith Schaefer
    (604) 608-0824