RNS Number:6159A
Scarborough Minerals PLC
20 July 2007
20 July 2007
Registration of Court Order confirming the sanction of the
Scheme and reduction of capital
The board of Scarborough announced on 19 July 2007 that the Court had sanctioned
the Scheme and confirmed the reduction of capital of Scarborough in connection
with the Scheme. Following the filing and registration earlier today of the
Court Order by the Registrar of Companies, the Scheme has become effective and
Scarborough has become a wholly-owned subsidiary of Minsec Investments (BVI)
Limited, which is itself a wholly-owned subsidiary of Mineral Securities Limited
(formerly known as Minsec (BVI) Limited) ("Minsec"). In due course, it is
intended that Scarborough will be re-registered as a private limited company
with the name Mineral Securities (UK) Limited.
Minsec is a company registered in the British Virgin Islands. It was established
in connection with the restructuring of the Minsec Group.
The last day of dealings in Scarborough CDIs on the Australian Securities
Exchange ("ASX") was 13 July 2007. The last day of dealings in Scarborough
Shares on AIM was 19 July 2007. Scarborough Shares were yesterday temporarily
suspended from admission to listing on the Official List of the UK Listing
Authority and to trading on the London Stock Exchange's main market for listed
securities. Cancellation of such admission is expected to take place at 8.00 a.m.
on 23 July 2007.
Shares in Minsec (AIM and ASX: MXX) which were issued to Scheme Shareholders
pursuant to the Scheme have been admitted to trading on AIM and dealings
commenced at 8.00 a.m. today. Minsec CDIs issued pursuant to the Scheme will be
tradable on ASX on a deferred settlement basis from 23 July 2007 and normal
trading in Minsec CDIs will commence on 30 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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