Ambrian PLC Completion of Merger (6121I)
March 26 2015 - 11:48AM
UK Regulatory
TIDMAMBR
RNS Number : 6121I
Ambrian PLC
26 March 2015
Ambrian plc
("Ambrian" or the "Company")
Completion of Merger with Consolidated General Minerals
(Schweiz) AG
Ambrian is pleased to announce that it has completed the merger
(the "Swiss Entities Merger") of Ambrian's Swiss subsidiary,
Ambrian Metals Limited, with Consolidated General Minerals
(Schweiz) AG ("CGM Schweiz"), the Swiss subsidiary of Consolidated
General Minerals plc ("CGM"), and the subsequent acquisition by
Ambrian of the shareholding of CGM in the merged Swiss entity,
together with all the indebtedness of the CGM Schweiz Group owed to
CGM (the "Acquisition").
Accordingly, re-admission to trading on AIM of the 111,361,208
Existing Issued Ordinary Shares of GBP0.01 pence will occur at 8.00
a.m. on 27 March 2015.
As announced on 17 February 2015, on completion of the
Acquisition, Robert Adair and Jean-Pierre Conrad joined the Board
of Directors of Ambrian as Chairman and CEO respectively.
Disclosures in accordance with the AIM Rules for Companies in
respect of these appointments were set out in Appendix 1 to the
announcement made on 17 February 2015.
Commenting on the Acquisition and the Swiss Entities Merger,
Robert Adair, Chairman of Ambrian said:
"The combination of the two companies provides the Enlarged
Group with a solid platform from which to enhance value for
shareholders. I am also pleased that CGM has, by way of this
merger, achieved its objective of returning to the listed
market."
Commenting on the Acquisition and the Swiss Entities Merger,
Kevin Lyon, Non-executive Director of Ambrian said:
"The merger with CGM Schweiz represents an exciting opportunity
for all shareholders and is a culmination of Ambrian's strategy
which has been developed over last 12 months with our key
investors. It fulfils our objectives of broadening our activities,
building our equity base and adding to our management team. The
Enlarged Group is well placed to move forward from a significantly
stronger base."
For further information, please contact:-
Ambrian plc
Robert Adair, Chairman +44 (0)7872 930 114
Jean-Pierre Conrad, CEO + 41 79 601 51 59
Roger Clegg, COO +44 (0)20 7634 4700
John Coles, FD
Cenkos Securities plc
Neil McDonald +44 (0)131 220 9771
Nick Tulloch +44 (0)131 220 9772
This information is provided by RNS
The company news service from the London Stock Exchange
END
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