TIDMVDM
RNS Number : 2420V
Van Dieman Mines plc
07 July 2009
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7 July 2009
VAN DIEMAN MINES PLC
Update on the Administration of Van Dieman Mines Pty Ltd
Appointment of Liquidators of Subsidiary
Further to the announcement of 30 June 2009, the second meeting of creditors of
Van Dieman Mines PTY Limited ("VDM PTY") was held today in Launceston, Tasmania,
Australia.
At the meeting, the creditors of VDM PTY unanimously resolved:
* to place VDM PTY in liquidation in accordance with the recommendation of Paul
Cook and Johnathan Murrell of Paul Cook and Associates (the "Administrator")
with immediate effect.
* to appoint Paul Cook and Associates as liquidator, with Paul Cook and Johnathan
Murrell being joint and several liquidators (the "Liquidator").
* to agree to the scales of remuneration recommended by Paul Cook and Associates
to apply to both Administrator and Liquidator.
The Board of Van Dieman Mines plc is continuing to work with Galena Special
Situations Master Fund, the Company's major creditor, on mechanisms for the
financial restructuring of the Company, including reviewing other project
opportunities.
Enquiries
+----------------------------------------------+------------------------------------+
| VAN DIEMAN MINES PLC | Tel: +61 (0) 4 0870 8778 |
| Mike Etheridge, Chairman | |
| | |
+----------------------------------------------+------------------------------------+
| GRANT THORNTON UK LLP | Tel: +44 (0) 20 7383 5100 |
| Gerry Beaney / Fiona Owen | |
| | |
+----------------------------------------------+------------------------------------+
| FOX DAVIES CAPITAL LIMITED | Tel: +44 (0) 20 7936 5230 |
| Jason Bahnsen, Corporate Finance | |
| | |
+----------------------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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