AMAN Azman

RNS Number:2160J
Azman PLC
02 March 2005


                              Azman plc ("Azman")

     Placing and Admission to Trading on the Alternative Investment Market

                                   KEY POINTS


   * Azman announces that trading in its shares commences today on the
     Alternative Investment Market.

   * Azman is a newly incorporated company established by experienced
     Directors to acquire and to invest in and provide finance to companies and
     businesses in finance and mining and exploration in Europe and the 
     Americas.

   * The Company has raised #400,000 (before expenses) through the placing of
     20 million new Ordinary Shares at 2p.

   * Market capitalisation following the Placing at the Placing price is #2.4
     million.

   * The Board comprises Leo Knifton, Chairman and Jonathan Rowland.

   * The Directors have already carried out preliminary due diligence into a
     number of potential investments although no firm commitment has been 
     entered into.

   * Nabarro Wells is Nominated Adviser to the Company and Falcon Securities
     is the Company's broker.


Chairman, Leo Knifton commented:-

"I am very excited about the prospects for Azman, as there are some attractive
opportunities in the natural resources sector at present. I am particularly
pleased to be working alongside Jonathan Rowland who has already achieved
considerable success in this sector at Resourceworks plc, notably as an early
investor in Asia Energy. I believe that we can benefit from timely access to
potential investments and that we have the experience and knowledge to identify
opportunities to acquire undervalued properties."

Press enquiries:-

Leo Knifton, Chairman, Azman plc                                  07887 877877
Zoe Biddick, Biddicks                                            020 7448 1000


Introduction

Azman is a newly incorporated company that has been established by the Directors
in order to acquire and to invest in and provide finance to companies and
businesses in finance and mining and exploration in Europe and the Americas. The
strategy is to seek to make investments in companies, which the Directors
perceive to be undervalued.

The Directors intend to develop a business that is actively engaged in
acquiring, investing in, and providing debt finance to companies, partnerships
and joint ventures in these sectors, which are considered by the Directors to
have the potential for generating significant, sustainable growth and
profitability. The proposed investments and acquisitions may be in either quoted
or unquoted securities. The Directors consider that opportunities exist at
present for interesting and high quality acquisitions and investments in these
sectors.

The Directors intend to review potential acquisition and investment
opportunities and have carried out preliminary due diligence into a number of
potential investments, but have not, at this stage, entered into any firm
commitment in connection with any acquisition or investment. Once terms have
been negotiated and finalised for the acquisition of a business or investment
that requires shareholder approval by reason of its scale or other attributes.
The proposed acquisition or investment will, if so required, be the subject of
the appropriate resolutions of the shareholders in general meeting.

The key attributes Azman will look for in a prospective acquisition and
investment targets will include one or more of the following:-

   *the prospect of yielding significant economic value through the
    application of sound investment principles and the deployment of the
    Directors' expertise;
   *the ability to unlock growth in asset values and where appropriate
    revenue generation;
   *competent management, with a strong track record in the relevant sector.

Company expenditure will be kept to a minimum and the Directors will not draw
any remuneration from the Company until such time as a substantive acquisition
or investment has been made. At that time the remuneration of Directors will be
reviewed and suitable remuneration arrangements will be determined by the
Directors. The net proceeds of the Placing will be placed on deposit and, in the
event that no substantive acquisition or investment is made within 18 months of
Admission, the Directors will convene a meeting of shareholders to determine the
future direction of the Company. Upon Admission, the Company will have no
trading activity record.

The Directors will use their experience to identify appropriate targets, carry
out due diligence and negotiate acquisitions and investments.

It is intended that the day-to-day management of companies that are acquired by
the Company will remain in the hands of existing management where that is
considered appropriate.

Directors

The Board comprises:

Leo Knifton, aged 51, Chairman

Leo Knifton, started his career in the City in 1970 as a Stock Jobber and Market
Maker with Pinchin Denny. He became a Member of the Stock Exchange in 1982 and
is a Fellow of the Securities Institute. In 1990 he formed Fort Knox Property
Services and later Proshore Financial Services Ltd., developing the Proshore
business into a significant provider of mortgages and related financial
products. Leo became an Appointed Representative of Alfred Henry Corporate
Finance Limited in 2003 to develop a broad range of services to smaller listed
businesses specialising in restructuring and reverse acquisitions. He is
Chairman of the following AIM listed companies, Oakgate PLC, Alltrue Investments
plc, SBS Group Plc, Beaufort International Group plc, PNC Telecom plc and LHP
Investments plc.

Jonathan Rowland, aged 29, Director

Mr Rowland was a founder director and chief executive of Jellyworks plc from its
flotation on 21 December 1999 until it was purchased by Shore Capital Group plc
in August 2000. He spent the preceding 5 years as an executive of Rowland
Capital Limited. Mr Rowland has wide investment experience and over the last ten
years has focused on listed investments, private equity and assisting companies
with re-structuring and financial advice. His role has been to identify and
evaluate such investments. More recently he was a founder Director of Resurge
plc which is a company whose shares are traded on AIM.

The Directors have considerable experience of making investments and applying
financial and management techniques to improve the performance of acquired
companies. They will use this experience to identify appropriate targets, carry
out due diligence and negotiate acquisitions, bringing in external consultants
who are specialists in the relevant industrial and business sectors, where
appropriate.

Reasons for the Placing

The proceeds of the Placing will be used to provide the funds needed by the
Company to identify and carry out due diligence on potential acquisitions and
investments to fund investments and to provide working capital for the Company's
initial operations in line with its acquisition strategy.

The Directors believe that the benefits of the Placing and Admission include:-
          
   * the ability to enter into negotiations with the owners of businesses or 
     companies, to whom the issue of publicly traded shares as consideration is
     potentially more attractive than the issue of shares in an equivalent 
     private company for which no regulated market exists;

   * the ability to raise further funds in the future, either to enable a
     proposed acquisition or investment to be completed and/or to raise 
     additional working capital or development capital for the Company; and

   * the ability to attract high quality directors and employees.

Details of the Placing

The Company is raising #400,000 (before expenses) through the placing of 20
million new Ordinary Shares at the Placing Price with investors, representing
16.66 per cent of the enlarged ordinary share capital of the Company on
Admission. Following the Placing, the Company will have paid up share capital
(including share premiums) of #500,000 and cash of approximately #445,000 net of
expenses.

Availability of prospectus

Copies of this document are available free of charge from the Company's
registered office and at the offices of Nabarro Wells & Company Limited, during
normal business hours on any weekday (Saturdays and public holidays excepted)
and shall remain available for at least one month after Admission.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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