Update to Indicative Scheme Timetable (2498A)

TIDMSLV

RNS Number : 2498A

Sylvania Resources Ltd

28 January 2011

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

ASX, AIM: SLV

UPDATE TO INDICATIVE SCHEME TIMETABLE

Sylvania Resources Limited (Sylvania Resources or the Company) advises that, following discussions with ASX, the indicative Scheme timetable as set out in the 'Key Dates' section on page 7 of the Scheme Booklet and the 'Expected Timetable of Principal Events' section on page 6 of the Appendix to the AIM Schedule 1 Announcement is updated as follows:

 
 Last time and date by which holders of Sylvania       3.00am (GMT) 
  Resources DIs can return a Form of Instruction     on 26 February 
                                                               2011 
 Last time and date by which Proxy Forms              11.00am (WST) 
  can be lodged                                      on 28 February 
                                                               2011 
 Time and date for determining eligibility             7.00am (GMT) 
  of holders of Sylvania Resources DIs to            on 28 February 
  vote at Scheme Meeting                                       2011 
 Time and date for determining eligibility            11.00am (WST) 
  of Sylvania Resources shareholders to vote         on 28 February 
  at Scheme Meeting                                            2011 
 Time and date of the Scheme Meeting                  11.00am (WST) 
                                                    on 2 March 2011 
 If the resolution considered at the Scheme Meeting is approved: 
 Court hearing for approval of the Scheme              8 March 2011 
 Effective Date                                        9 March 2011 
 Last day of trading on ASX and cancellation           9 March 2011 
  of trading on AIM of Sylvania Resources 
  Shares 
 Commencement of trading of Sylvania Platinum         10 March 2011 
  Shares on ASX on a deferred settlement basis 
 Time and date for determining entitlements            7.00am (GMT) 
  of holders of Sylvania Resources DIs to               on 17 March 
  Scheme Consideration under the Scheme                        2011 
 
 
 Time and date for determining entitlements          7.00pm (WST) 
  of Sylvania Resources shareholders to Scheme        on 17 March 
  Consideration under the Scheme                             2011 
 Implementation Date - issue of Sylvania            18 March 2011 
  Platinum Shares and Sylvania Platinum DIs 
  under the Scheme and transfer of Sylvania 
  Resources Shares to Sylvania Platinum 
 Despatch of holding statements for Sylvania        24 March 2011 
  Platinum Shares issued under the Scheme 
 Last day of deferred settlement trading            24 March 2011 
  of Sylvania Platinum Shares on ASX 
 Sylvania Platinum Shares begin trading on          25 March 2011 
  ASX on normal settlement basis and commencement 
  of trading of Sylvania Platinum Shares on 
  AIM with holders of Sylvania Platinum DIs 
  settling trades on AIM in CREST

The above 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. Sylvania Resources has the right to vary the timetable set out above subject to the approval of such variation by the Court and ASX where required. Any variation to the timetable set out above will be announced by the Company and published on Sylvania Resources' website at www.sylvaniaresources.com.

The changes to the indicative timetable are:

-- the date for determining entitlements of Sylvania Resources shareholders and holders of Sylvania Resources DIs to Scheme Consideration is now 17 March 2011 (not 16 March 2011);

-- the Implementation Date is now 18 March 2011 (not 17 March 2011);

-- the date of despatch of holding statements for Sylvania Platinum Shares issued under the Scheme and the last day of deferred settlement trading of Sylvania Platinum Shares on ASX is now 24 March 2011 (not 23 March 2011); and

-- normal trading of Sylvania Platinum Shares on ASX and commencement of trading of Sylvania Platinum Shares on AIM now occurs on 25 March 2011 (not 24 March 2011).

Defined terms used in this announcement have the same meaning as given to them in the Scheme Booklet and AIM Schedule 1 Appendix.

-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