Offer Closed (3457Y)

TIDMKAH

RNS Number : 3457Y

CGNPC Uranium Resources Co., Ltd

29 February 2012

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

29 February 2012

RECOMMENDED CASH OFFER FOR KALAHARI MINERALS PLC ("Kalahari") BY TAURUS MINERAL LIMITED ("Taurus") (A COMPANY FORMED AT THE DIRECTION OF CGNPC URANIUM RESOURCES CO., LTD ("CGNPC-URC") AND THE CHINA-AFRICA DEVELOPMENT FUND ("CADFund"))

Offer closed

On 8 December 2011 CGNPC-URC announced that the boards of Kalahari and CGNPC-URC had reached agreement on the terms of a recommended cash offer for the entire issued and to be issued share capital of Kalahari (the "Offer"), the full terms and conditions to which were set out in the offer document issued by Taurus on 5 January 2012 (the "Offer Document").

On 3 February 2012, Taurus declared the Offer unconditional in all respects and on 14 February 2012, Taurus announced that the Offer would close at 1:00pm (London time) on 28 February 2012.

Accordingly, Taurus declares that the Offer has now closed.

Level of Offer acceptances

As at 1:00 p.m. (London time) on 28 February 2012, Taurus had received valid acceptances from Kalahari Shareholders in respect of 261,881,364 Kalahari Shares representing approximately 98 per cent. of the existing issued share capital of Kalahari. These acceptances include acceptances received in respect of 20,568,813 Kalahari Shares, representing approximately 7.7 per cent. of the existing issued share capital of Kalahari, which were subject to irrevocable undertakings procured by Taurus from the Kalahari Directors.

The terms of the Kalahari Directors' irrevocable undertakings were set out in paragraph 3 of Appendix 5 to the Offer Document.

Interests in relevant securities

Save as disclosed in this announcement or in the Offer Document, as at 1:00 p.m. (London time) on 28 February 2012, neither Taurus nor any person acting in concert with Taurus, is interested in or has any rights to subscribe for any Kalahari Shares, nor does any such person have any short position under a derivative, any agreement to sell or any delivery obligation or right to require another person to purchase or take delivery of Kalahari Shares, nor does any such person have any borrowing or lending of Kalahari Shares, except for any borrowed shares which have been either on-lent or sold.

Settlement

Settlement for Kalahari Shareholders whose valid acceptances were received, complete in all respects, not later than 1:00 p.m. (London time) on 28 February 2012 but which have not yet been settled, will be made within 14 calendar days of receipt.

Terms and expressions used in this announcement shall, unless the context otherwise requires, have the same meanings as given to them in the Offer Document.

Enquiries:

 
College Hill (Public Relations adviser to CGNPC-URC and Taurus) 
Tony Friend                   Tel: +44 20 7457 2020 
 Alexandra Roper 
 Henry Chow                    Tel: +852 3791 2289

This information is provided by RNS

The company news service from the London Stock Exchange

END

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