Tungsten Corporation PLC Extension of the Bank Acquisition Agreement (6167V)
16 December 2013 - 10:11PM
UK Regulatory
TIDMTUNG TIDMTTM
RNS Number : 6167V
Tungsten Corporation PLC
16 December 2013
TUNGSTEN CORPORATION plc
("Tungsten" or collectively the "Group")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN
NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OF SUCH JURISDICTION
For Immediate Release
16 December 2013
Extension of the Bank Acquisition Agreement
As set out in the Tungsten's Admission Document, pursuant to the
terms of the share purchase agreement to acquire FIBI Bank (UK) plc
("the Share Purchase Agreement") entered into between the Tungsten
and First International Bank of Israel Limited ("First
International Bank") on 19 March 2013, completion of the Share
Purchase Agreement had to occur on or before 18 December 2013
unless the parties agreed otherwise in writing.
Tungsten is pleased to announce that on 13 December 2013
Tungsten and First International Bank entered into a deed of
amendment pursuant to which the completion date has been extended
to the later of:
(i) 31st March 2014; or
(ii) such other date after 31st March 2014 but on or before 30th
April 2014 as may be notified by the FCA and / or PRA (as
applicable) having indicated that approval will be granted to
Tungsten to become a controller of FIBI Bank (UK) plc on or before
1st February 2014; or
(iii) such other date after 30th April 2014 as may be agreed by
the parties in writing in their discretion (and without making any
other amendment to this agreement)
As previously disclosed, discussions continue with the PRA to
advance the change of control process whereby Tungsten can acquire
the FIBI Bank (UK) plc.
Enquiries
Tungsten Corporation plc +44 7785 954 350
Edmund Truell, CEO
Jeff Belkin, CFO
Charles Stanley Securities (NOMAD and Joint Broker to Tungsten) +44 20 7149 6000
Marc Milmo / Dugald Carlean
Canaccord Genuity (Joint broker to Tungsten) +44 20 7523
8000
Simon Bridges / Peter Stewart/ Cameron Duncan
Equus Group (Communications) +44 20 7223 1100
Piers Hooper / Sam Barton
This information is provided by RNS
The company news service from the London Stock Exchange
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