Central Asia Metals PLC Completion of acquisition and Readmission (5778V)
06 November 2017 - 7:00PM
UK Regulatory
TIDMCAML
RNS Number : 5778V
Central Asia Metals PLC
06 November 2017
6 November 2017
CENTRAL ASIA METALS PLC
("CAML" or the "Company")
Completion of the acquisition of Lynx Resources Limited and
Readmission
Central Asia Metals PLC (AIM: CAML) is pleased to announce the
completion of the acquisition of Lynx Resources Limited, owner of
the Sasa zinc-lead mine in Macedonia (the "Acquisition"), and that
the Company's Enlarged Share Capital has been admitted to trading
on AIM ("Readmission").
The Acquisition constitutes a "reverse takeover" under the AIM
Rules for the Company and accordingly, the cancellation of CAML's
Existing Ordinary Shares from trading on AIM and Readmission
occurred simultaneously.
Following Readmission, the Company's total issued share capital
comprises 176,498,266 ordinary shares (including the 15,278,528
Consideration Shares issued to Orion Co-Investments III L.P on
Completion pursuant to the terms of the Acquisition). The Company
has 511,647 ordinary shares held in treasury. Accordingly, the
total number of voting rights in the Company's shares is
175,986,619 and therefore this figure may be used by the Company's
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Nick Clarke, Executive Chairman, commented:
"CAML is now the owner of the Sasa zinc-lead mine in Macedonia,
which means that our company is a newly diversified base metals
producer. The low cost nature of Sasa complements our Kounrad
operation and we look forward to our future with two long life and
cash generative base metal operations in highly prospective
jurisdictions. This should enable us to continue to reward our
supportive shareholders with attractive returns."
All capitalised terms, unless otherwise defined, shall have the
meanings ascribed to them in the Company's Admission Document dated
22 September 2017.
For further information please contact:
Central Asia Metals plc
Tony Hunter Tel: +44 (0)
Company Secretary 20 7603 1515
Louise Wrathall, Investor Relations Tel: +44 (0)
louise.wrathall@centralasiametals.com 20 7898 9001
Peel Hunt (Nominated Adviser & Tel: +44 (0)
Joint Broker) 20 7418 8900
Ross Allister
Richard Crichton
Chris Burrows
J.P. Morgan Cazenove (Financial Tel: +44 (0)
Adviser) 20 7742 4000
Barry Weir
Edward Jack
Nicholas Hall
Mirabaud Securities (Joint Broker) Tel: +44 (0)
20 3167 7221
Peter Krens
Blytheweigh (PR Advisers) Tel: +44 (0)
20 7138 3204
Tim Blythe
Camilla Horsfall
Megan Ray
Note to editors:
Central Asia Metals, an AIM-listed UK company based in London,
owns 100% of the Kounrad SX-EW copper project in central
Kazakhstan. The Company also owns 80% of the Shuak copper
exploration property in northern Kazakhstan. The Company's
acquisition of Lynx Resources was completed in November 2017. For
further information, please visit www.centralasiametals.com.
Further Information:
J.P. Morgan Securities plc, which conducts its UK investment
banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"),
is authorised by the Prudential Regulatory Authority and regulated
by the Financial Conduct Authority and the Prudential Regulatory
Authority in the United Kingdom. J.P. Morgan Cazenove is acting as
financial adviser exclusively for CAML and no one else in
connection with the matters set out in this announcement and will
not regard any other person as its client in relation to the
matters in this announcement and will not be responsible to anyone
other than CAML for providing the protections afforded to clients
of J.P. Morgan Cazenove or its affiliates, or for providing advice
in relation to any matter referred to herein.
Peel Hunt LLP ("Peel Hunt"), is authorised and regulated in the
United Kingdom by the Financial Conduct Authority. Peel Hunt is
acting as nominated adviser and broker exclusively for CAML and no
one else in connection with the matters set out in this
announcement and will not regard any other person as its client in
relation to the matters in this announcement and will not be
responsible to anyone other than CAML for providing the protections
afforded to clients of Peel Hunt or its affiliates, or for
providing advice in relation to any matter referred to herein.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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