RNS Number:0705Y
Quadra Mining Ltd
08 June 2007
Quadra Mining Ltd
8 June 2007
Not for release, publication or distribution in, into or from the United States,
Australia, South Africa or Japan or any other Jurisdiction where to do so would
constitute a violation of the relevant laws of such jurisdiction
FOR IMMEDIATE RELEASE 8 June 2007
Recommended Offers by Quadra Mining Ltd ("Quadra") for International Molybdenum
plc ("InterMoly")
Final Extension of Offers
The board of Quadra announces that its Offers for the issued share capital and
traded warrants of InterMoly have been extended beyond 12 June 2007 (the Second
Closing Date) and will remain open for acceptance until 3.00 p.m. (London time)
on 22 June 2007. No further extension of the Offers will be made and the Offers
will accordingly close at that time.
The Offers were declared unconditional in all respects on 14 May 2007.
The attention of InterMoly Shareholders and InterMoly Warrantholders who have
not accepted the Offers is drawn to the fact that the admission of InterMoly to
the AIM Market of the London Stock Exchange is expected to be cancelled at the
close of business on 25 June 2007 and that trading in the InterMoly Shares and
InterMoly Warrants will cease at that time. The cancellation of the trading of
the InterMoly Shares and the InterMoly Warrants on AIM will significantly reduce
the liquidity and marketability of any InterMoly Shares and InterMoly Warrants
not assented to the Offers and their value may be affected.
As at 5.00 p.m. (London time) on 7 June 2007, valid acceptances of the Offers
had been received in respect of 111,956,488 InterMoly Shares and 10,936,908
InterMoly Warrants, representing approximately 81.8 per cent, of the InterMoly
Shares and 82.0 per cent of the InterMoly Warrants. This includes acceptances in
respect of 106,666,700 InterMoly Shares (representing approximately 78 per cent
of the InterMoly Shares) and 3,333,350 InterMoly Warrants (representing
approximately 25 per cent, of the InterMoly Warrants) which were received
pursuant to an irrevocable undertaking to accept the Offers received from
Galahad Gold plc.
Neither Quadra nor any party deemed to be acting in concert with Quadra held any
InterMoly Shares or InterMoly Warrants or rights over such shares or warrants
before 8 March 2007, the first day of the Offer Period, nor have they acquired
or agreed to acquire any InterMoly Shares or InterMoly Warrants or rights over
such shares or warrants since the commencement of the Offer Period except
pursuant to the Offers.
InterMoly Shareholders and InterMoly Warrantholders who have not yet accepted
the Ordinary Offer and/or the Warrant Offer and wish to do so should, if they
hold their InterMoly Shares or InterMoly Warrants in certificated form, complete
the relevant Form of Acceptance enclosed with the Offer Document and return it,
together with supporting documents, as soon as possible by post or (during
normal business hours) by hand to Computershare Investor Services PLC, PO Box
859, The Pavilions, Bridgwater Road, Bristol, BS99 1XZ or by hand only (during
normal business hours) to Computershare Investor Services PLC, 2nd Floor,
Vintners Place, 68 Upper Thames Street, London EC4V 3BJ. InterMoly Shareholders
and InterMoly Warrantholders who hold InterMoly Shares and/or InterMoly Warrants
in uncertificated form (that is, in CREST) should, if they wish to accept the
relevant Offer, do so as soon as possible by TTE instruction in accordance with
the instructions set out in the Offer Document. InterMoly Shareholders and
InterMoly Warrantholders who have any questions as to how to complete the
relevant Form of Acceptance or who need to obtain a further Form of Acceptance
should contact Computershare Investor Services PLC by telephone on 0870 707 1167
or on +44 0870 707 1167 if calling from outside the United Kingdom. InterMoly
Shareholders and InterMoly Warrantholders are reminded that, if they are CREST
sponsored members, they should contact their CREST sponsor before taking any
action.
Settlement of the consideration to which any InterMoly Shareholder or InterMoly
Warrantholder is entitled under the Offers will be dispatched within 14 days
of receipt of a valid acceptance.
Terms defined in the Offer Document have the same meanings in this announcement.
Enquiries:
Quadra Mining Ltd +1 604 689 8550
Paul Blythe
International Molybdenum plc +1 604 644 8244
Morris Beattie
Standard Bank Plc +44 (0)20 7815 4303
(Financial Adviser to Quadra Mining Ltd)
Thys Terblanche
Matrix Corporate Capital Limited + 44 (0)20 7925 3300
(Financial Adviser to International Molybdenum plc)
Stephen Mischler/Alastair Stratton
This announcement is not intended to, and does not, constitute or form any part
of, an offer to sell or an invitation to purchase or the solicitation of an
offer to subscribe for any securities or the solicitation of any vote or
approval in any jurisdiction pursuant to the Offers or otherwise.
The availability of the Offers to persons not resident in the United Kingdom may
be affected by the laws of the relevant jurisdictions in which they are located.
Persons who are not resident in the United Kingdom should inform themselves
about, and observe, any applicable requirements.
In particular, the Offers are not being made, directly or indirectly, in or
into, or by use of the mails, or by any means or instrumentality (including,
without limitation, facsimile transmission, electronic mail, telex or telephone)
of interstate or foreign commerce, or of any facility of a national securities
exchange, of the United States, Australia, South Africa or Japan and the Offers
will not be capable of acceptance by any such means, instrumentality or facility
from within the United States, Australia, South Africa or Japan. Accordingly,
copies of this announcement are not being, and must not be, mailed or otherwise
distributed or sent in or into the United States, Australia, South Africa or
Japan.
The Offers are being made pursuant to the exemptions from the take-over bid
rules in each of the Canadian provinces and territories. Should such exemptions
no longer be available, copies of this announcement may no longer be mailed or
otherwise distributed or sent in or into such Canadian provinces.
The New Quadra Shares have not been, nor will they be, registered under the
Securities Act or any of the relevant securities laws of any state of the United
States, Australia, South Africa or Japan. Accordingly the New Quadra Shares may
not (unless an exemption under relevant securities laws is applicable) be
offered, sold, resold or delivered, directly or indirectly, in or into the
United States, Australia, South Africa or Japan or for the account or benefit of
any person located in the United States, Australia, South Africa or Japan or any
US Person.
Standard Bank Plc, which is regulated in the United Kingdom by The Financial
Services Authority, is acting exclusively for Quadra and for no-one else in
connection with the Offers and will not be responsible to anyone other than
Quadra for providing the protections afforded to customers of Standard Bank Plc
nor for providing advice in relation to the Offers,
Matrix Corporate Capital Limited, which is regulated in the United Kingdom by
The Financial Services Authority, is acting exclusively for InterMoly and far
no-one else in connection with the Offers and will not be responsible to anyone
other than InterMoly for providing the protections afforded to customers of
Matrix Corporate Capital Limited nor for providing advice in relation to the
Offers.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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