Fluormin
Fluormin, formerly known as Maghreb Minerals Plc, is focused on the development of assets in the fluorspar sector. The Company has a portfolio of fluorspar assets in South Africa, Kenya and Tunisia.
Fluormin is a sponsor of this site. Proactive Investors guarantees coverage of all sponsor news announcements from an investor view-point. For an in-depth analysis of Fluormin, click here.
RNS Release - Sallies Debentures Update
RNS Number : 0093W Fluormin PLC 23 January 2012
Fluormin plc
("Fluormin" or the "Company")
FLUORMIN ACQUIRES 97% OWNERSHIP OF SALLIES DEBENTURES PURSUANT TO MANDATORY BID PROCESS
The Company is pleased to announce that, as at the closing date of the unconditional mandatory offer ("the Offer") by the Company to Sallies debenture holders on 20 January 2012, valid acceptances have been received in respect of 56,492,972 Sallies debentures, representing approximately 39.16% of the Sallies debentures. As a result, the Company now holds 139,905,822 Sallies debentures representing 96.99% of the Sallies debentures in issue.
The offer to Sallies debenture holders consisted of either a cash payment of 50 rand cents or 0.064595 Fluormin ordinary shares for every Sallies debenture held. 1,593,892 acceptances were received in respect of the share consideration and 54,899,080 acceptances were received in respect of the cash consideration. Accordingly, and in terms of the Offer, the cash payment to be made by Fluormin to Sallies debenture holders will be R27,449,540 and the total number of Fluormin ordinary shares to be issued to Sallies debenture holders will be 102,950. Application has been made for the 102,950 Fluormin shares to be admitted to trading on AIM and admission is expected to take place in two tranches on 24 January 2012 and 27 January 2012 ("Admission"). Following Admission the total number of Fluormin shares in issue will be 55,865,722.
The Company expects Sallies to be delisted from the JSE Securities Exchange upon application.
Contact Information
|
Fluormin plc |
|
|
|
|
|
Al Gourley, Joint Chief Executive Officer |
(44)020-7556-0940, agourley@fluormin.com |
|
|
|
|
Mark Bolton, Joint Chief Executive Officer |
(44)020-7556-0940, mbolton@fluormin.com |
|
Westhouse Securities |
|
|
|
|
|
Martin Davison |
(44)020 7601 6100, martin.davison@westhousesecurities.com |
|
|
|
|
Tim Feather |
(44)020 7601 6100, tim.feather@westhousesecurities.com |
|
Tavistock Communications |
|
|
|
|
|
Lydia Eades |
(44)020 7290 3150, leades@tavistock.co.uk |
|
|
|
|
Jos Simson |
(44)020 7290 3150, jsimson@tavistock.co.uk |
This information is provided by RNS The company news service from the London Stock Exchange END
Other Fluormin news
- RNS Release - Q3 Update
2012-04-26 - Fluormin receives first payment of US$6.5 million for KFC stake sale
2012-04-26 - RNS Release - Director/PDMR Shareholding
2012-04-06 - Fluormin considering options to reduce costs at Witkop fluorspar operation
2012-04-02 - Fluormin sees improvement in South Africa power and water issues
2012-02-23
