Description of Business

The Company operates in Sweden, Norway and Ireland and is quoted on the London Stock Exchange AIM market (tiker LPP); on the Irish Stock Exchange (tiker LPC).

The Company is incorporated in England (Registered number 4994974) and the main country of operation of the Group is Sweden.

The rights of shareholders in an English incorporated company are similar to, but not identical to, those of an Irish incorporated company.

Background
Lapp Plats was incorporated on 15 December 2003 with its primary activity being mineral exploration. In January 2004 the Company acquired from Minmet exclusive rights of access to platinum and nickel data contained in a geochemical database of some 140,000 targets covering Sweden, Finland Norway and Ireland. Utilising the Database and data from the Swedish Geological Survey, Lapp Plats concentrated its initial efforts in seeking platinum and nickel targets in Sweden.

The Company raised approximately £400,000 before expenses by way of a private placement with sophisticated investors in February 2004, thereby reducing Minmet’s shareholding in the Company to 58 per cent. Immediately following this private placement, the Company’s issued share capital commenced trading on the OFEX Market. In February 2005, Minmet disposed of its entire shareholding in the Company save in respect of four Ordinary Shares held by its subsidiary MIOM.

Business And Strategy
Lapp Plats’ business and strategy is to develop its existing platinum and nickel exploration portfolio and seek out acquisition and development opportunities in the broader resource sector encompassing minerals, metals, oil and gas.

The Directors believe that there are a number of acquisition opportunities available in the resource sector, which may be of interest to the Company. The Directors have commenced a process of researching potential opportunities including correspondence with brokers, companies and management teams relating to resource sector projects involving mineral, metal and, oil and gas assets. Should this process result in an executable transaction, additional equity fundraising may be required.