RNS Number:5466A
Scarborough Minerals PLC
19 July 2007
19 July 2007
Court sanction of Scheme
and confirmation of reduction of capital
The board of Scarborough is pleased to announce that, at a Court hearing today,
the Court sanctioned the Scheme and confirmed the reduction of capital comprised
within the Scheme. The Scheme, the reduction of capital and the acquisition of
Scarborough by Minsec Investments (BVI) Limited, a wholly-owned subsidiary of
Mineral Securities Limited (formerly known as Minsec (BVI) Limited), are
expected to become effective on 20 July 2007 upon registration of an office copy
of the Court Order by the Registrar of the Companies. In due course, it is
intended that Scarborough will be re-registered as a private limited company
with the name Mineral Securities (UK) Limited.
The Scheme Record Time is 4.30 p.m. today from which time London dealings in
Scarborough shares will be suspended. Dealings on AIM in the shares in Mineral
Securities Limited to be issued to Scheme Shareholders pursuant to the Scheme
are expected to commence at 8.00 a.m. on 20 July 2007. It is expected that
Scarborough Shares will cease to be listed on the Official List of the UK
Listing Authority and admitted to trading on the London Stock Exchange's main
market for listed securities at 8.00 a.m. on 23 July 2007.
Terms used in this announcement shall have the same meaning as in the Scheme
document dated 22 May 2007 which was sent to Scarborough Shareholders in
relation to the Scheme.
For more information please contact:
W. James Haddock, Interim CFO and Company Secretary
London +44 207 152 6230
Sydney +61 2 9265 5515
This information is provided by RNS
The company news service from the London Stock Exchange
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