Kenmare Resources Statement Regarding Share Price Movement And Lender Engagement
10 December 2014 - 6:00PM
UK Regulatory
TIDMKMR
Kenmare Resources plc ("Kenmare" or "the Company")
10 December 2014
Statement regarding share price movement and lender engagement
The Board of Kenmare notes the recent decline in the Company's share
price, which appears in part prompted by concerns regarding the ability
of the Company to meet the 31 January 2015 budget requirement under the
debt amendment announced on 1 August 2014.
As outlined in Kenmare's Interim Management Statement on 17 October, the
Company has been working closely with lenders and their advisors.
Constructive discussions are continuing with a view to reaching
agreement on amendment to the terms of the debt that would both address
any potential default relating to the 31 January budget requirement and
provide a basis for a more sustainable debt structure.
The Company will provide further updates in due course.
For further information, please contact:
Kenmare Resources plc
Michael Carvill, Managing Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0110
Tony McCluskey, Financial Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0346
Jeremy Dibb, Corporate Development and Investor Relations Manager
Tel: +353 1 671 0411
Mob: + 353 87 943 0367
Murray Consultants
Joe Heron
Tel: +353 1 498 0300
Mob: +353 87 690 9735
Buchanan
Bobby Morse / Louise Mason / Gordon Poole
Tel: +44 207 466 5000
The Directors of Kenmare accept responsibility for the information
contained in this announcement. To the best of their knowledge and
belief (having taken all reasonable care to ensure that such is the
case), the information contained in this announcement is in accordance
with the facts and does not omit anything likely to affect the import of
such information.
This announcement is not intended to, and does not, constitute or form
part of any offer, invitation or the solicitation of an offer to
purchase, otherwise acquire, subscribe for, sell or otherwise dispose of,
any securities whether pursuant to this announcement or otherwise. The
distribution of this announcement in jurisdictions outside Ireland or
the United Kingdom may be restricted by law and therefore persons into
whose possession this announcement comes should inform themselves about,
and observe, such restrictions. Any failure to comply with the
restrictions may constitute a violation of the securities law of any
such jurisdiction.
A person interested in 1% or more of any class of relevant securities of
Kenmare or Iluka may have disclosure obligations under Rule 8.3 of the
Irish Takeover Rules, effective from 26 June 2014, the date of the
commencement of the offer period for Kenmare under the Irish Takeover
Rules.
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Kenmare Resources via Globenewswire
HUG#1878693
http://www.kenmareresources.com/
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