has the support of the majority of Katanga's shareholders as a result of its acquisition, in the open market, of 22% of Katanga's shares and also has entered into agreements with certain shareholders representing approximately another 32% of the outstanding shares of Katanga pursuant to which such shareholders have agreed to accept the Offer, within the context of Katanga's shareholder rights plan.
was also responsible for spending over US$250-million in the DRC, which included millions of dollars on corporate social investment activities to uplift the communities surrounding its operations.
transaction is subject to the Admission of the newly allotted CAMEC
The combination of CAMEC
and Katanga will create a leading copper cobalt company with growing production, as well as quantified and increasing resources
The Board of CRC would like to remind shareholders that CAMEC
remains in default in respect of its obligations under CRC's Articles of Association to extend an offer to all other shareholders in CRC.
also invested US$1,2 million to reconstruct the national road between Kolwezi and Likasi which was severely damaged by floods over 15 years ago.
CONTACT: contact: Phil Edmonds, CAMEC
, Tel: +44(0)845-108-6060; Jonathan Wright, Seymour Pierce Ltd, Tel: +44(0)20-7107-8000; Hugo de Salis, St Brides Media & Finance Ltd, Tel: +44(0)20-7242-4477
regards a breach of these conditions as commercially fundamental to its bid and it will rely on them.
CONTACT: Contact: Andrew Groves, CAMEC
, Tel: +44-(0)-845-108-6060; Jonathan Wright, Seymour Pierce Ltd , Tel: +44-(0)-20-7107-8000; Hugo de Salis, St Brides Media & Finance Ltd , Tel: +44-(0)-20-7242-4477
Katanga had announced in a news release issued on May 8, 2007 that it was making application for the Ontario Securities Commission (the 'OSC') to issue an order that would prohibit CAMEC
from purchasing the Katanga shares.
Upon closing, CAMEC
will own a total of 17,175,130 common shares of Katanga which, based on publicly available information, will represent 22% of the currently outstanding common shares of Katanga.
LONDON, April 27 /PRNewswire-FirstCall/ -- Central African Mining & Exploration Company Plc (AIM:CFM)("CAMEC
" or the "Company"), the AIM listed fully integrated exploration, mining, trading and investment company, announces that it has entered into a private agreement with a shareholder of Katanga Mining Limited ("Katanga"), pursuant to which CAMEC
has agreed to acquire an additional 1,619,500 common shares of Katanga.