MNT Minmet

    


Minmet plc



                                   Minmet plc
                           ("Minmet" or the "Company")

                    Recommended takeover offer for Minmet plc

Minmet is pleased to announce that it has today received a conditional offer to
acquire the entire issued share capital of the Company from NRG Holdings
International Limited ("NRG Holdings"). The offer is conditional on due
diligence being conducted to the satisfaction of NRG Holdings.

The offer is for 10 pence per ordinary share, valuing Minmet at approximately
�9.2 million. This represents a premium of 154 per cent to the closing share
price of 3.94 pence on 18 August 2008, the day before the statement of possible
offer was announced.

The Board is very happy to recommend this offer to all shareholders.

The due diligence exercise is expected to take approximately 2 weeks. NRG
Holdings will then take its decision whether to make a full official offer to
acquire the entire issued share capital of Minmet.

The Directors of the Company accept responsibility for the information contained
in this announcement. To the best of the knowledge and belief of the Directors
of the Company (who have taken all reasonable care to ensure that such is the
case) the information contained in this announcement is in accordance with the
facts and contains no omission likely to affect the import of such information.

Mike Neville, Chairman of Minmet commented:

"Whilst we may have wanted to take Minmet forward with operations in New Mexico,
the current state of the markets has rendered this entirely impossible, and
there was no chance of adding any value into Minmet without drastically diluting
our shareholders.

"This is therefore a fantastic deal for all our shareholders. When John Liwosz
and I came on board, our mission was to deliver value for all parties, and we
feel that a significant per cent. premium within a few months exceeds most
reasonable expectations."

                                     -Ends-

For further enquiries:
Minmet plc
  Michael Neville, Chairman                                           +353 1 661 3309

College Hill, Public Relations                                        +44 (0) 20 7457 2020
  Nick Elwes
  Paddy Blewer

Nabarro Wells & Co. Limited (Nominated Adviser)                       +44 (0) 20 7634 4705
Kevin Lynch

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