TIDMENK

RNS Number : 6966I

ENK PLC

27 July 2012

APPROACH FROM POTENTIAL ACQUIROR

27 July 2012 - ENK plc ("ENK" or the "Company") (AIM, PLUS, ASX: ENK) makes the following announcement with respect to potential corporate activity involving the Company.

The Company has received an approach that may or may not lead to an offer being made for all of the issued and to be issued share capital of the Company. Discussions are at an early stage and there can be no guarantee that a formal takeover offer will be made.

With the closing mid-market share price on 26 July 2012 of 13.75 pence (A$0.207), and a net asset value of 28.0 pence per share (A$0.42), the company believes any offer would need to be at a significant premium in order to recognise the full value of the company's assets and significant technological expertise.

The Company has US$30 million in cash, another US$11 million receivable over the next 5 months and is presently finalising the Bankable Feasibility Study on its Acoje project. The Company's Update and Quarterly Activities report released to the market on 26 July 2012 contains a full summary of the status of its assets and projects.

In the event that an offer is made the Company has confirmed with the Panel on Takeovers and Mergers that the UK Takeover Code does not currently apply to the Company. Regardless, the Company has urged the interested party to follow the UK Takeover Code as much as practicable in order to ensure an orderly process.

Further updates will be made as appropriate.

For further information on the Company please see www.enk.co.uk.

Yours faithfully,

Robert G M Gregory

Managing Director

For more information or to view a copy of this document, please visit www.enk.co.uk or contact:

   Robert Gregory, Managing Director, ENK                                        Tel: +63 917 513 4970

Mark Hanlon, Finance Director, ENK Tel: +61 8 9226 1111

Chris Sim, Neil Elliot, Investec Tel: +44 20 7597 5970

   Tim Blythe or Robert Kellner, Blythe Weigh Communications         Tel: +44 20 7138 3204

This information is provided by RNS

The company news service from the London Stock Exchange

END

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