Cancellation of admission of trading on AIM
10 Novembro 2009 - 1:30PM
UK Regulatory
TIDMCFM
RNS Number : 2958C
Central African Mining&Exploration
10 November 2009
10 November 2009
Central African Mining & Exploration Company plc
("CAMEC" or the "Company")
Cancellation of admission of trading on AIM
Further to today's announcement by Eurasian Natural Resources Corporation PLC
that its recommended offer ("Offer") for the entire issued share capital of
CAMEC has been declared unconditional in all respects, CAMEC confirms that
application has been made to the London Stock Exchange to cancel the admission
to trading on AIM of the ordinary shares of 0.1p each in the capital of the
Company ("CAMEC Shares").
The notice period of 20 business days referred to in the Offer document will
therefore commence as of today's date and it is anticipated that trading of
CAMEC Shares on AIM will be cancelled with effect from 7:00 am on 8 December
2009. Accordingly the last day of dealings in CAMEC Shares will be 7 December
2009.
Cancellation of admission to trading of CAMEC Shares on AIM will significantly
reduce the liquidity and marketability of all CAMEC Shares not assented to the
Offer at that time and CAMEC shareholders should be aware that, because the AIM
Rules will cease to apply to CAMEC following the cancellation of admission to
trading of CAMEC Shares on AIM, they will as a result, have more limited
shareholder protections if they remain shareholders in CAMEC.
Enquiries
For further information, please contact:
+---------------------------------+-------------------------------------+
| Jonathan Wright | 020 7107 8000 |
+---------------------------------+-------------------------------------+
| | |
+---------------------------------+-------------------------------------+
- ENDS -
About CAMEC
CAMEC is an Africa focused emerging mining company. It operations are centred
around copper and cobalt, coal, bauxite, platinum, trucking and logistics and
fluorspar. CAMEC's copper and cobalt operations are located in the Democratic
Republic of Congo. CAMEC is a holder of coal licences in Mozambique, including
the 100 per cent. owned 871L coal project, in the prospective Zambezi coal
province in Mozambique. In platinum, CAMEC has a controlling interest in a
number of significant assets in Zimbabwe, including a 60 per cent. interest in
the Bokai and Kironde claims held through Todal Mining (Pty) Limited. CAMEC's
trucking and logistics subsidiary, Sabot, has a fleet of approximately 467
trucks and a series of warehouses across the region. In Fluor spar, CAMEC holds
a majority stake in the Doornhoek Fluorspar Project located adjacent to the
Wiktop Fluorspar mine in South Africa. CAMEC is a UK company whose shares were
admitted to trading on AIM on 9 October 2002. For the year ended 31 March 2009,
CAMEC reported a loss before tax of US$41.5 million and had total assets as at
31 March 2009 of US$1,627 million.
Forward-looking Statements
This announcement includes statements that are, or may be deemed to be,
'forward-looking statements'. These forward-looking statements can be identified
by the use of forward-looking terminology, including the terms 'believes',
'estimates', 'plans', 'projects', 'anticipates', 'expects', 'intends', 'may',
'will', or 'should' or, in each case, their negative or other variations or
comparable terminology, or by discussions of strategy, plans, objectives, goals,
future events or intentions. These forward-looking statements include matters
that are not historical facts or are statements regarding the Group's
intentions, beliefs or current expectations concerning, among other things, the
Group's results of operations, financial condition, liquidity, prospects,
growth, strategies, and the industries in which the Group operates.
Forward-looking statements are based on current plans, estimates and
projections, and therefore too much reliance should not be placed upon them.
Such statements are subject to risks and uncertainties, most of which are
difficult to predict and generally beyond the Group's control. By their nature,
forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances. The Group cautions you that forward-looking
statements are not guarantees of future performance and that if risks and
uncertainties materialise, or if the assumptions underlying any of these
statements prove incorrect, the Group's actual results of operations, financial
condition and liquidity and the development of the industry in which the Group
operates may materially differ from those made in, or suggested by, the
forward-looking statements contained in this announcement. In addition, even if
the Group's results of operations, financial condition and liquidity and the
development of the industry in which the Group operates are consistent with the
forward-looking statements contained in this announcement, those results or
developments may not be indicative of results or developments in future periods.
A number of factors could cause results and developments to differ materially
from those expressed or implied by the forward-looking statements including,
without limitation, general economic and business conditions, industry trends,
competition, commodity prices, changes in regulation, currency fluctuations,
changes in business strategy, political and economic uncertainty. Subject to the
requirements of the Prospectus Rules, the Disclosure and Transparency Rules and
the Listing Rules or any applicable law or regulation, the Group expressly
disclaims any obligation or undertaking publicly to review or confirm analysts
expectations or estimates or to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any changes in the
Group's expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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