TIDMAFF
RNS Number : 8388T
Afferro Mining Inc.
25 November 2013
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION
TO US NEWS WIRE SERVICES.
25 November 2013
TSX-V: AFF
AIM: AFF
AFFERRO MINING INC.
and
INTERNATIONAL MINING & INFRASTRUCTURE CORPORATION PLC
Update on IMIC Acquisition
Afferro Mining Inc. ("Afferro" or the "Company") and
International Mining & Infrastructure Corporation plc ("IMIC")
are updating the market on the Arrangement Agreement, details of
which were announced on 24 June 2013, 18 July 2013, 13 September
2013 and 23 October 2013, pursuant to which IMIC, through its
wholly owned subsidiary, Afferro Holdings Ltd., will acquire all of
the issued and to be issued common share capital of the Company
(the "Arrangement").
The Board of Afferro (the "Board") advises that the current
outside date of 26 November 2013 for the completion of the
Arrangement will not be met. The Parties are in discussion to amend
the Arrangement Agreement for a new outside date, which is expected
to be no later than 31 December 2013. The Board also notes that
IMIC announced to the market on 22 November 2013 its intention to
mail its AIM Re-admission Document this week and hold its general
meeting to approve the Arrangement in the week commencing 16
December 2013, which is consistent with the expectation that the
deal be concluded by the 31 December 2013 at the latest. A further
announcement will be made once the amendment to the Arrangement
Agreement has been signed.
In accordance with this timing Afferro has applied for the
cancellation of its shares from admission to the AIM Market of the
London Stock Exchange ("Cancellation"). Following completion of the
Arrangement, the Company's shares will also be de-listed from the
TSX-V. The Cancellation is currently expected to take place at
07:00 (GMT) on a date no earlier than 24 December 2013 and no later
than 31 December 2013. These dates are subject to change and
confirmation on the final timetable for the Arrangement. Following
completion of the Arrangement and the Cancellation, Afferro's
shareholders will cease to hold shares in the Company and
accordingly no dealings in Afferro's shares will be able to be
effected.
For further information please contact one of the following:
Afferro Mining Inc.
Luis da Silva / Jeremy Cave
+44 (0) 20 7010 7680
Canaccord Genuity Limited
Financial Adviser
Neil Elliot / Joe Weaving
+44 (0) 20 7523 8000
Investec Bank Plc
Nominated Adviser and Joint Broker
Chris Sim / Jeremy Ellis / George Price
+44 (0) 20 7597 5970
RBC Capital Markets
Joint Broker
Jonathan Hardy / Richard Hughes
+44 (0) 20 7653 4000
Pelham Bell Pottinger
Public Relations Adviser
Daniel Thöle / James MacFarlane
+44 (0) 20 7861 3232
International Mining and Infrastructure Corporation plc
www.imicplc.com
Haresh Kanabar/Ousmane Kane/James Ward
+44 (0) 20 7290 3340
Bank of America Merrill Lynch
Financial Adviser
Omar Davis/Ken McLaren
+44 (0) 20 7628 1000
Ocean Equities Limited
Joint Broker
Guy Wilkes/Will Slack
+44 (0) 20 7786 4370
WH Ireland Limited
Nominated Adviser and Joint Broker
Mike Coe
+44 (0) 117 945 3470
Buchanan
Media and Investor Relations Adviser
Mark Court/Fiona Henson/Sophie Cowles
+44 (0) 20 7466 5000
Forward Looking Statements
This announcement includes certain forward-looking statements.
All statements, other than statements of historical fact, included
herein are forward-looking statements that involve various known
and unknown risks and uncertainties as well as other factors. Such
forward looking statements are subject to a number of risks and
uncertainties that may cause actual results or events to differ
materially from current expectations. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements.
Information about the risks and uncertainties of the Company's
business is provided in its disclosure materials, including its
Annual Information Form for the 12 months ended 31 December 2012,
available under the Company's profile on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actions, events or results to differ materially
from those described in forward looking information, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended.
This news releases contains forward-looking statements
concerning the expected completion date of the Arrangement. There
can be no assurance that the Arrangement will occur or that the
anticipated strategic benefits and operational, competitive and
cost synergies will be realized. The Arrangement remains
conditional on approval by IMIC shareholders and the satisfaction
or waiver of the conditions to closing, including receipt of all
necessary regulatory approvals, and there can be no assurance that
any such approvals will be obtained in a timely manner or at all
and/or any such conditions will be met.
The Arrangement could be modified, restructured or terminated.
Readers are cautioned that the foregoing list of factors is not
exhaustive. Other risks and uncertainties not presently known to
Afferro or that Afferro presently believes are not material could
also cause actual results or events to differ materially from those
expressed in the forward-looking statements contained herein.
There can be no assurance that forward looking information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information
contained herein, speaks only as of the date hereof (unless stated
otherwise) and, except as may be required by applicable law,
Afferro disclaims any obligation to update or modify such
forward-looking statements, either as a result of new information,
future events or for any other reason.
About Afferro
Afferro is an established exploration and development company
listed on the TSX-V (AFF) and AIM (AFF). Afferro's portfolio
includes the 100% owned Nkout, Ntem and Akonolinga iron ore
projects. It also holds a 70% interest in the Ngoa project, an
exploration target bordering Nkout. All projects are subject to
government rights. Nkout has an Indicated Mineral Resource Estimate
of 1.6Bt at 33.3% Fe and an Inferred Mineral Resource Estimate of
0.9Bt at 30.8% Fe which are supported by the technical report
titled "Mineral Resource Estimate and Preliminary Economic
Assessment for the Nkout Iron Project, Community of Djoum, Cameroon
May 2013" with the effective date May 28, 2013 . Ntem has an
Indicated Mineral Resource Estimate of 39.1Mt at 34.0% Fe and an
Inferred Mineral Resource Estimate of 76.4Mt at 34.2% Fe which are
supported by the technical report titled "Mineral Resource Estimate
for the Ntem (Fe08) Iron Ore Project, South Province, Cameroon May
2013, with the effective date 3 May 2013.
About IMIC
IMIC in conjunction with its privately held strategic partner
African Iron Ore Group (AIOG), is working to unlock value in the
metals and mining industry in West and Central Africa by providing
infrastructure solutions, for railways, deep-water ports, power
and/or iron ore beneficiation, that will allow the region's
emerging iron ore projects to develop into globally significant
export operations.
IMIC and AIOG are well positioned to partner African host
countries in the delivery of infrastructure arrangements, and to
assist with initiatives that best address the long-term aspirations
of their governments and people.
China, as consumer of 70% of the world's seaborne iron ore, is
key to this opportunity. A best in breed alliance of Chinese
construction and equipment groups and iron ore off-takers has been
carefully assembled to provide funding and delivery of projects and
onward sale of iron ore.
AIOG's major infrastructure project, in partnership with IMIC,
is the Simandou South iron ore project in the Republic of Guinea,
where there is an agreement with the Guinean government to deliver
a multi-purpose, multi-user infrastructure solution which
ultimately could become the backbone of the country's transport
network.
IMIC also takes strategic stakes in junior miners with the
intention of benefiting from the uplift in value once an
infrastructure solution is initiated.
IMIC shares are traded on the London Stock Exchange's AIM market
under the ticker symbol IMIC.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFELFLXFFFFBF
Afferro Min (LSE:AFF)
過去 株価チャート
から 10 2024 まで 11 2024
Afferro Min (LSE:AFF)
過去 株価チャート
から 11 2023 まで 11 2024