Restructuring of Astar Minerals ("Astar")
Paternoster is pleased to note the announcement by Astar of its proposed restructuring to become an investment company under the AIM rules, focused on the natural resources sector. As part of this restructuring, Paternoster has subscribed for 74 million new shares in Astar at the placing price of 0.15 pence, for an aggregate consideration of £111,000. As a result, post restructuring, Paternoster will hold 86 miilion shares in Astar, representing a shareholding of 29%.
Nicholas Lee, Chairman said
"The restructuring of Astar will allow the company to refocus and pursue a new strategy as an investment company."