Expiry of OAO Severstal Subscription Right (5428Z)
17 Gennaio 2011 - 8:00AM
UK Regulatory
TIDMBKY TIDMSVST
RNS Number : 5428Z
Berkeley Resources Limited
17 January 2011
17 January 2011
BERKELEY RESOURCES LIMITED
EXPIRY OF OAO SEVERSTAL SUBSCRIPTION RIGHT
Berkeley Resources Ltd ("Berkeley") advises that OAO Severstal's
right to subscribe for shares in Berkeley pursuant to the
Subscription Rights Deed entered into by the parties - as set out
in the Company's announcements dated 29 October 2010, 10 December
2010 and 30 December 2010 - expired on 14 January 2011.
Although Berkeley and Severstal were not able to agree the terms
under which OAO Severstal would undertake an agreed bid for
Berkeley and therefore, OAO Severstal's right to subscribe for
shares in Berkeley has lapsed, the parties are continuing
discussions in respect to other possible arrangements that may be
entered into by them.
Enquiries - Acting Managing Director: Henry Horne Tel: +34 673
497 712
RBC Capital Markets: Martin Eales Tel: +44 20 7029 7881
BMO Capital Markets:
Sarfraz Visram, Managing Director Tel: +1 416 359 5864
Robin Birchall, Vice President Tel: +44 20 7664 8100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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