TIDMELX

RNS Number : 3542C

El Oro Ltd

14 June 2019

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA OR THE REPUBLIC OF SOUTH AFRICA

14 June 2019

El Oro Ltd

Scheme Timetable Update

On 24 May 2019, El Oro Ltd (the "Company") published a Circular (the "Circular") in relation to proposals for the voluntary winding-up and reconstruction of the Company with rollover options into JPMorgan Elect plc ("Proposals") by way of a scheme of reconstruction of the Company (the "Scheme").

The Circular set out an expected timetable of the Proposals (the "Timetable"). The Circular stated that heads of terms for the sale of 41 Cheval Place, a freehold property in the Company's portfolio (the "Freehold Property") had been signed on 16 May, 2019. The Circular stated that in the event that the net proceeds of the expected sale of the Freehold Property had not been received prior to 5.00 p.m. on 18 June 2019, (being the expected Calculation Date) the Company may postpone the Calculation Date. The Company now confirms that the completion date for the Freehold Property sale, has been set for 27 June 2019 and therefore the Timetable has been updated accordingly.

The full timetable is set out below, with the updated dates shown in bold:

 
                                                                           2019 
 Time from which it is advised that dealings               6.00 p.m. on 14 June 
  in the Shares should only be for cash 
  settlement and immediate delivery of documents 
  of title 
 Latest time and date for receipt of Forms                 1.00 p.m. on 17 June 
  of Election or TTE Instructions from Eligible 
  Shareholders 
 Closing of the Company's register of members              6.00 p.m. on 17 June 
  and Record Date for participation in the 
  Proposals 
 Latest time and date for receipt of Forms                   12 noon on 18 June 
  of Proxy from Shareholders in respect 
  of the EGM 
 Shares disabled in CREST                                  6.00 p.m. on 19 June 
 Listing of Shares on the Official List                    6.00 p.m. on 19 June 
  of TISEA suspended 
 Extraordinary General Meeting                               12 noon on 20 June 
 
 RNS Announcement of the results of the                                 20 June 
  EGM and Elections 
 Commencement of the voluntary winding                                  20 June 
  up of the Company 
 Calculation Date                                          5.00 p.m. on 27 June 
 Scheme Effective Date and Transfer Date                                 2 July 
 Admission of JPMorgan Elect Securities                     8.00 a.m. on 3 July 
  issued under the Scheme and dealings in 
  such JPMorgan Elect Securities commence 
 Cheques expected to be despatched and             on or as soon as practicable 
  CREST payments made to Shareholders in                           after 3 July 
  respect of the Cash Option 
 Share certificates for JPMorgan Elect                       week commencing 15 
  Securities issued under the Scheme expected                              July 
  to be despatched 
 Cancellation of the listing of the Shares                              22 July 
  on the Official List of TISEA

Each of the times and dates in the updated timetable above may (where permitted by law) be extended or brought forward without further notice. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a Regulatory Information Service. All references to times in this document are to London time.

Capitalised terms used but not defined in this announcement will have the same meaning as set out in the Circular.

For further information:

 
 El Oro Ltd 
  Robin Woodbine Parish, Chairman         robin@eloro.co.uk 
  Una Ni Dhonaill                         una@eloro.co.uk 
 Aztec Financial Services (Guernsey) 
  Limited 
  Chris Copperwaite 
  Lucy Smith                            01481 748831

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 14, 2019 08:30 ET (12:30 GMT)

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