SHFT Shaft Sink

TIDMSHFT

RNS Number : 4163A

Shaft Sinkers Holdings Plc

22 December 2014

22 December 2014

Shaft Sinkers Holdings plc

("Shaft Sinkers" or the "Group")

Notice of termination for Leeuwkop and Impala 16 Shaft contracts

Shaft Sinkers Holdings plc (LSE:SHFT), the international shaft sinking and underground construction group, announces that it received notices of termination from members of the Implats Group concerning its Leeuwkop and Impala 16 Shaft contracts.

The notice of termination concerning the Leeuwkop contract stated that the termination of the project was due to the prolonged strikes in the platinum industry, and that the status of the project would be reviewed in the future.

Both contracts will be terminated with 60 calendar days' notice taking effect from 15 December 2014.

Funding discussions for the Group are continuing and further announcements will be made as appropriate.

- Ends -

For further information:

   Shaft Sinkers Holdings plc                               +44 (0) 787 595 1362 

Alon Davidov, Chief Executive Officer

Chris Hall, Chief Financial Officer

Notes to editors

Shaft Sinkers

Shaft Sinkers Holdings specialises in the sinking of particularly deep and wide vertical and decline shafts and the development of underground infrastructure, used primarily in mining and hydropower applications.

The Group is a world leader in vertical shaft sinking with a focus on particularly deep and/or wide vertical shafts. It has the capability to sink shafts through all types of rock strata, including running sands and clay. The Group works principally for established mining and infrastructure companies.

Historically, the Group has completed projects in over 20 countries worldwide across Africa, Europe, South America, the Middle East, Asia and Australia. The Group was responsible for sinking one of the deepest ever man and material South African shafts, a secondary shaft at the Western Deep Levels to a depth of 3,131 metres below bank.

This information is provided by RNS

The company news service from the London Stock Exchange

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