MDM Mdm Engin.

TIDMMDM

RNS Number : 2688Q

MDM Engineering Group Ltd

29 August 2014

MDM Engineering Group Limited

("MDM" or the "Company")

MDM and Foster Wheeler Merger Update

MDM Engineering Group Limited (AIM: MDM), the minerals process and project management company focused on the mining industry, today provides an update to the merger with Foster Wheeler, as announced on 13 March 2014 (the "Transaction").

As outlined in the announcement of 13 March 2014, the Transaction is subject to a number of conditions precedent, including obtaining MDM shareholder approval, securing required regulatory approvals (including clearances from the South African Competition Authority and the Tanzanian Fair Competition Commission) and no material adverse changes or certain prescribed events (as defined in the MIA) occurring in relation to MDM's business.

MDM shareholder approval and Tanzanian Fair Competition Commission consent have already been obtained, as announced on 9 May 2014 and 28 July 2014 respectively.

Regulatory approval from the South African Competition Authority is now expected to be received in mid to late September 2014.

The Company shall make a further announcement on receiving approval from the South Africa Competition Authority, which shall also include details of the expected timetable for completion and intended date for cancellation of the Company's shares from AIM.

Enquiries:

MDM Engineering Group Limited

Martin Smith (CEO)

George Bennett (Executive Director)

Tel: +27 (0) 11 993 4300

Canaccord Genuity Limited

NOMAD and Broker

Neil Elliot

Chris Fincken

Tel: +44 (0)20 7523 8000

Tavistock Communications

Financial Public Relations and Investor

Emily Fenton

Jos Simson

Tel: +44 (0)20 7920 3150

KEY INFORMATION:

MDM:

MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The Company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the Company's clients have largely been junior and mid-tier mining corporations with operations in Africa.

The MDM Engineering core technical team has a 25 year track record of completing a wide range of studies and execution projects across a variety of minerals, including precious metals, base metals, ferrous and non-ferrous metals, uranium and diamonds.

The Company has adopted an approach to project execution based on an open-book Engineering, Procurement, and Construction Management "EPCM" or "cost-plus" basis and on a Engineering, Procurement and Construct (EPC) basis. With a core focus on Africa, MDM Engineering is setting the benchmark standard for best practice in the mining services industry through its commitment to providing the highest quality services and actively engaging with clients to ensure maximum transparency.

www.mdm-engineering.com

FOSTER WHEELER AG:

Foster Wheeler AG (Nasdaq: FWLT) is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, minerals and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Reading, United Kingdom.

www.fwc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

MERUWOORSNAWUAR

Mdm Engin. (LSE:MDM)
Historical Stock Chart
From May 2024 to Jun 2024

Mdm Engin. (LSE:MDM)
Historical Stock Chart
From Jun 2023 to Jun 2024