RNS Number:2100A
Scarborough Minerals PLC
13 July 2007
MERGER UPDATE
13 July 2007
The recommended Merger between Scarborough Minerals plc ("Scarborough") and
Mineral Securities Limited ("Minsec") continues to proceed according to the
indicative timetable provided in the Scheme booklet lodged with ASX and mailed
to shareholders and CDI holders on 23 May 2007.
Since the last announcement (of shareholder approval of the Merger) on 28 June
2007:
* the second Court hearing in London resulted in the granting of an order to
allow the third and final hearing of the Petition for the Scheme
of Arrangement to take place at the Royal Courts of Justice on 19 July 2007; and
* the Minsec restructuring was completed. Minsec CDIs are now trading on ASX
(under the new ticker: MXX) on a deferred delivery basis and will
trade on a normal settlement basis from Monday, 16 July 2007.
As previously advised, trading in Scarborough CDIs on ASX ceases from close of
trading today. This suspension is necessary to comply with ASX Listing Rule 7.40
and the indicative timetable for the Merger approved by the ASX. Trading in
Scarborough shares continues on the London Stock Exchange, but will, subject to
the Scheme of Arrangement being approved, be temporarily suspended from trading
from close of trading on 19 July 2007.
The key remaining events and dates in the Merger are as follows:
* final U.K. Court hearing on 19 July 2007;
* temporary suspension of trading in Scarborough shares on the LSE from close
of trading on 19 July 2007;
* admission of Minsec shares to trading on the LSE's AIM market from 20 July 2007;
* commencement of trading in Minsec CDIs on ASX on a deferred settlement basis
on 23 July 2007;
* dispatch of Minsec share certificates and holding statements by 3 August 2007.
For further information contact:
John Richards Ph : +61 (0)2 9264 5515
Executive Director Fax: +61 (0)2 9264 5656
Email: jr@scrbmin.com
This information is provided by RNS
The company news service from the London Stock Exchange
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