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Market: LSE
Sector: General Mining
EPIC: KMR
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Kenmare Resources
www.kenmareresources.com

Kenmare Resources plc is quoted on the official lists of the Irish and London Stock Exchanges. The principal activities of the Group are the exploration for commercial deposits of natural resources and the development and operation of mines. Kenmare Resources main asset is the Moma Titanium Minerals Mine, located on the coast of Mozambique. The Moma Mine contains reserves of heavy minerals which include the titanium minerals ilmenite and rutile, as well as the high-value zircon mineral.

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Kenmare Resources to join FTSE 250 index

9th Sep 2010, 12:34 pm

Titanium minerals miner Kenmare Resources PLC (LON:KMR) is joining the FTSE 250 index of shares on the London Stock Exchange, following the quarterly review of the LSE’s FTSE UK Index Series.

The changes will be applied after the close of business on Friday, September 17 2010, and will be effective on Monday, September 20 2010.

The company’s managing director Michael Carvill commented:  "We are delighted that the FTSE Nationality Committee deemed Kenmare eligible for FTSE Index inclusion and that we are now entering the FTSE 250.  We believe that entering the FTSE 250 will broaden the range of potential investors."

In early July, Kenmare announced its plans to change the classification of its ‘dual-listed’ equities, with its Irish Stock Exchange (ISE) listing becoming a secondary listing, while in London trading  under a LSE Premium Listing - formerly referred to as a primary listing.

The company said in July it had been in discussions to obtain a UK Nationality classification and was expecting its shares to be admitted to the FTSE UK Index this month.

The move reflects the gradual migration of its shareholder base to the UK.  According to Kenmare, approximately 4% of share capital is known to be beneficially held by Irish resident shareholders, while approximately 96% of total volume in the period 1 January to 30 May 2010 occurred on the LSE.

Kenmare is progressing with the engineering design of output expansion at the Moma titanium minerals mine in northern Mozambique.  The expansion is expected to be completed during 2012, with full production at the expanded design capacity achieved by the end of 2012.

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