Cardinal Resources is Selling Ukrainian Assets
31 October 2008
Cardinal Resources (CDL LN: N/R) yesterday announced that it has entered a framework agreement with Kuwait Energy, to sell Ukrainian assets for USD 71 mln to cover its USD 52 mln debt. Earlier this month Cardinal announced the resignation of its nominated advisor. Under the AIM Rule 1, if the company does not replace NOMAD within 1 month (by November 16), admission of its shares to trading on AIM will be cancelled.
