BKY Berkeley Energia Limited

 

TIDMBKY TIDMSVST 
 
RNS Number : 7810X 
Berkeley Resources Limited 
10 December 2010 
 

 
 
 
 
 
                       EXTENSION GRANTED TO OAO SEVERSTAL 
 
 
Berkeley Resources Ltd ("Berkeley" or the "Company") advises that OAO Severstal 
("Severstal") requested that the Company sign an amendment to the existing 
Subscription Rights Deed, which was due to expire on 10 December 2010. 
 
The Berkeley Resources Board has considered Severstal's request and has agreed 
to an extension of the exclusivity period to 29 December 2010. 
 
Severstal requested this extension to give it additional time to conduct its due 
diligence. 
 
In addition, Severstal's right to subscribe for shares in Berkeley will now 
expire on 14 January 2011, unless it has announced an intention to proceed with 
a takeover bid on or before that date. 
 
A summary of the key terms of the Subscription Rights Deed is contained in 
Annexure A of Berkeley's announcement dated 29 October 2010. 
 
SHAREHOLDERS SHOULD NOTE THAT THIS DOES NOT CONSTITUTE AN ANNOUNCEMENT OR PUBLIC 
PROPOSAL BY THE COMPANY OR SEVERSTAL THAT SEVERSTAL WILL BE MAKING OR PROPOSING 
A TAKEOVER BID FOR THE COMPANY AND THERE IS NO GUARANTEE THAT A TAKEOVER BID OR 
ANY OTHER PROPOSAL WILL BE MADE OR PROPOSED. FURTHER, IF A TAKEOVER BID IS MADE 
OR PROPOSED, THERE IS NO GUARANTEE THAT IT WILL BE AT A PRICE OF $2.00 PER 
SHARE. 
 
 
Enquiries -       Managing Director:     Ian Stalker                  Tel:  +34 
608 221 497 
RBC Capital Markets: Martin Eales               Tel: +44 20 7029 7881 
 
BMO Capital Markets: 
Sarfraz Visram, Managing Director                Tel: +1 416 359 5864 
Robin Birchall, Vice President                        Tel: +44 20 7664 8100 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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