RNS Number:9308Y
Quadra Mining Ltd
25 June 2007
Quadra Mining Ltd
25 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 25 June 2007
Recommended Offers by Quadra Mining Ltd ("Quadra") for International Molybdenum
plc ("InterMoly)
Closure of Offers, Cancellation of InterMoly Trading on AIM and Compulsory
Acquisition of Outstanding InterMoly Warrants
Further to the announcement made by the board of Quadra on 8 June 2007, the
Offers for the issued share capital and traded warrants of InterMoly closed at
3.00 p.m, (London time) on 22 June 2007 (the Final Closing Date).
The Offers were declared unconditional in all respects on 14 May 2007.
As previously announced, the admission of InterMoly to the AIM Market of the
London Stock Exchange will be cancelled at the close of business today and
trading in the InterMoly Shares and InterMoly Warrants will cease at that time.
As at the Final Closing Date, acceptances of the Offers had been received in
respect of 112,887,287 InterMoly Shares and 12,110,450 InterMoly Warrants,
representing approximately 82.47 percent. of the InterMoly Shares and 90.82
percent. 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 percent. 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.
Since acceptances of the Warrant Offer have been received in respect of more
than 90 per cent. of the InterMoly Warrants to which the Warrant Offer relates
and the Warrant Offer has been declared unconditional in all respects, Quadra
proposes shortly to issue notices under section 979 of the Companies Act 2006 to
those InterMoly Warrantholders who have not accepted the Warrant Offer,
informing them that Quadra now intends to exercise its rights to acquire
compulsorily all the InterMoly Warrants outstanding at the expiry of the
requisite notice period.
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 +44(0)20 7290 8187
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
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 for
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
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