TIDMSLV

RNS Number : 0191A

Sylvania Resources Ltd

25 January 2011

Sylvania Resources Limited ('Sylvania Resources' or the 'Company')

ASX, AIM: SLV

Update on proposed redomicile to Bermuda, ASX listing and AIM admission

Sylvania Resources is pleased to announce that the pre-admission announcement plus appendix in connection with the proposed admission of the new Bermudian incorporated holding company of the Sylvania Resources group, Sylvania Platinum Limited ("Sylvania Platinum"), to trading on AIM ("Schedule 1 Announcement"), has today been provided to the London Stock Exchange. Copies of the Schedule 1 Announcement are available for download from the Company's website (www.sylvaniaresources.com).

Defined terms in this announcement have the same meaning as those defined in the

announcement made by the Company on 18 January 2011.

The Schedule 1 Announcement makes reference to previously unpublished information including the following which are available from the Company's website:

1) a Competent Person's Report produced by Venmyn Rand (a summary of which is set out in Annex 5 to the Scheme Booklet dated 18 January 2011 ("Scheme Booklet")); and

2) the Scheme Booklet, which includes information on Sylvania Platinum and Bermudian law together with a current trading update and unaudited financial information for the four months to 31 October 2010, in respect of Sylvania Resources.

Despatch of the Scheme Booklet

The Company has now completed despatch of the Scheme Booklet to Sylvania Resources shareholders and holders of Sylvania Resources DIs.

Timetable

As outlined in the Company's announcement on 18 January 2011, a shareholder meeting to approve the Scheme is due to be held at 11.00am (western standard time) on 2 March 2011.

 
 If the resolution considered at that Scheme meeting 
  is approved, the Company expects the following events 
  to occur: 
 Court hearing for approval of the Scheme                   8 March 2011 
 Effective Date                                             9 March 2011 
 Last day of trading on ASX and cancellation of trading     9 March 2011 
  on AIM of Sylvania Resources Shares 
 Commencement of trading of Sylvania Platinum Shares       10 March 2011 
  on ASX on a deferred settlement basis 
 Implementation Date - issue of Sylvania Platinum Shares   17 March 2011 
  and Sylvania Platinum DIs pursuant to the Scheme 
 Last day of deferred settlement trading of Sylvania       23 March 2011 
  Platinum Shares on ASX 
 Sylvania Platinum Shares begin trading on ASX on a        24 March 2011 
  normal settlement basis 
 Admission and dealings in Sylvania Platinum Shares        24 March 2011 
  commence on AIM with holders of Sylvania Platinum 
  DIs settling trades on AIM in CREST 
 

This timetable is indicative only. The actual timetable will depend upon the time at which the conditions precedent to the Scheme, including conditions relating to receipt of regulatory approvals, are satisfied or if applicable, waived. Those conditions are summarised in section 1.6(a) of the Scheme Booklet and the Appendix to the Schedule 1 announcement. Any variation to the timetable set out above will be announced by the Company and published on Sylvania Resources' website.

-End-

For further information please contact:

In South Africa Terence McConnachie (CEO Sylvania Resources Limited) (+27 11) 673 1171

Louis Carroll (FD/Joint Company Secretary) Sylvania Resources Limited (+27 11) 673 1171

In Australia

Richard Rossiter (Chairman) Sylvania Resources Limited

(+614) 1868 8338

Grant Button (Director/Joint Company Secretary) Sylvania Resources Limited (+618) 9226 4777

In United Kingdom Richard Brown/Ben Wright Ambrian Partners Limited +44 (0) 20 7634 4700

Laurence Read/Beth Harris

Threadneedle Communications

+44 (0) 20 7653 9855

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCPGURCGUPGUQA

Sylvania (LSE:SLV)
過去 株価チャート
から 5 2024 まで 6 2024 Sylvaniaのチャートをもっと見るにはこちらをクリック
Sylvania (LSE:SLV)
過去 株価チャート
から 6 2023 まで 6 2024 Sylvaniaのチャートをもっと見るにはこちらをクリック