NKR Nikanor

RNS Number:6457L
Nikanor Plc
11 January 2008

11 January 2008



Update on Completion of Merger between Nikanor PLC and Katanga Mining Limited



Further to yesterday's announcement by Nikanor PLC ("Nikanor") of the results of
its Extraordinary General Meeting, Katanga Mining Limited ("Katanga") has
announced that its shareholders approved the merger with Nikanor at a special
general meeting held earlier today in Toronto. Further details can be found on
Katanga's website (www.katangamining.com).


Offer Declared Unconditional In All Respects

As at 1.00 p.m. (London time) on 11 January 2008, the first closing date of the
Offer, valid acceptances of the Offer had been received in respect of a total of
194,378,242 Nikanor shares, representing approximately 94.10 per cent of the
existing issued share capital of Nikanor.

Since over 90 per cent of shares have been tendered by Nikanor shareholders at
the first closing date of the Offer, all conditions of the Offer have now been
satisfied and/or waived and the Offer has been declared unconditional in all
respects by Katanga.

Katanga has also confirmed that it has received conditional approval from the
Toronto Stock Exchange for the listing on the Toronto Stock Exchange of the new
Katanga shares to be issued to Nikanor shareholders pursuant to the Offer.


Re-Registration Of Nikanor

Application will be made by Nikanor to the Isle of Man Financial Supervision
Commission for the re-registration of Nikanor as a company under the Isle of Man
Companies Act 2006 (the "Re-registration"). It is anticipated that the
Re-registration will take effect from 14 January 2008. As set out in the notice
of Extraordinary General Meeting, the purpose of the Re-registration is
primarily to facilitate the return of capital payment by Nikanor later this
month in connection with the Offer.


Cancellation of Admission to Trading on AIM

Application will be made to the London Stock Exchange for the cancellation of
admission to trading of Nikanor Shares on AIM. It is anticipated that the
cancellation of trading of Nikanor Shares on AIM will take effect at 7 a.m. on
11 February 2008.


Settlement and Compulsory Acquisition

It is anticipated that shareholders who have accepted the Offer will receive the
Offer consideration in late January 2007.

As stated in the Offer Document, given that the Offer is now unconditional in
all respects and Katanga has received valid acceptances under the Offer in
respect of more than 90 per cent of the Nikanor Shares to which the Offer
relates, Katanga intends to implement the procedures set out in Section 160 of
the Companies Act to acquire compulsorily any outstanding Nikanor Shares to
which the Offer relates.

These compulsory acquisition procedures are expected to start on 14 January 2008
following the anticipated Re-registration, and to complete on 14 February 2008.


For further information, please contact:

Nikanor PLC                                         +44 (0)20 7529 5800
Jonathan Leslie, Executive Chairman
Peter Sydney-Smith, Finance Director
Richard Boorman, Head of Investor Relations

JPMorgan Cazenove                                   +44 (0)20 7588 2828
Ian Hannam
Adam Brett
Joe Seifert

Citigate Dewe Rogerson                              +44 (0)20 7638 9571
Kate Delahunty
George Cazenove



Notes to Editors

Nikanor is a mining group which owns assets in the heart of the African
copperbelt in the Democratic Republic of Congo. The group's key mine is KOV,
containing one of the world's largest high quality copper and cobalt ore bodies.
Nikanor is rehabilitating this proven and well documented brownfield site and
building a major state of the art refining plant to produce 250,000 tonnes per
year of LME A-grade copper cathode and 27,500 tonnes per year of cobalt
products.

Nikanor was admitted to the London Stock Exchange (AIM) on 17 July 2006.





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