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Gold/Mining/Energy : TRANS-GLOBAL, TGA-VSE
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To: davo who wrote (27)4/15/1999 7:41:00 AM
From: davo  Read Replies (1) of 73
 
Suspension extended until ASX prerequisites satisfied:

TGL - ASX Company Announcement$gol515 April 1999Part 1/1--------
TRANS-GLOBAL RESOURCES NL-------------------------HOMEX - Perth
-------------------------Continuation of Voluntary Suspension
The Company hereby advises that the voluntary suspension of its
shares which was requested by the Company and granted by the
Australian Stock Exchange ("ASX") on 12th April 1999 until 10am on
16th April 1999 will continue. The suspension was sought in response
to unusually high trading volumes and price movements with respect
to the Company's shares on both the ASX and the Vancouver Stock
Exchange. The Company has also suspended trading of its shares onNASDAQ.
The Company is in the process of finalising formal agreements with
respect to a new acquisition. Details of the proposed acquisition
have been disclosed to the ASX who have deemed that this acquisition
would be regarded as a change of activities under Chapter 11 of the
ASX Listing Rules. Accordingly the Company anticipates that its
shares will remain suspended until such time as a meeting of members
is convened and all necessary ASX and other regulatory pre-requisites
are satisfied. The Company believes that it is already substantially
in compliance with these requirements and does not envisage any
difficulty in fulfilling these criteria.
In order to keep the market and investors fully informed the Company
plans to release an announcement, as soon as formal documentation is
executed, providing a detailed outline of the proposed acquisition. It
is anticipated that this disclosure will be well received and
represents a new and diverse activity for the Company.R RevelinsDIRECTOR
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