MC Mining Limited Offer Update
12 Marzo 2024 - 8:19AM
RNS Regulatory News
RNS Number : 4889G
MC Mining Limited
12 March 2024
ANNOUNCEMENT
12 March 2024
NON-BINDING AND INDICATIVE
PROPOSAL FROM VULCAN RESOURCES WILL NOT PROCEED
MC Mining Limited (MCM or the Company) refers to its announcement
dated 8 March 2024 regarding a non-binding indicative proposal from
Vulcan Resources, a private Indian company and subsidiary of Vulcan
International (Vulcan).
The Company advises that on Tuesday,
12 March 2024, the Company received correspondence from Vulcan
advising that Vulcan has concluded that it would not be proceeding
with a formal offer.
Vulcan's intention not to proceed
does not alter the Independent Board Committee's current
recommendation to Shareholders NOT
TO ACCEPT the Goldway Capital Investment Limited
Offer.
As announced on 4 March 2024, the
Independent Board Committee reminds Shareholders that a
Supplementary Target's Statement accompanied by an independent
expert report will be lodged by the Company on 18 March
2024.
Khomotso Mosehla
Chairman of the IBC
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014 as it forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018, as
amended.
This announcement has been approved
for release by the Company's Disclosure Committee.
For
more information contact:
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Tony Bevan
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Company Secretary
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Endeavour Corporate
Services
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+61 42 1072 165
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Company advisers:
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Richard Johnson / Rob
Patrick
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Nominated Adviser
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Strand Hanson Limited
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+44 20 7409 3494
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Rory Scott
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Broker (AIM)
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Tennyson Securities
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+44 20 7186 9031
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Marion Brower
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Financial PR (South
Africa)
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R&A Strategic
Communications
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+27 11 880 3924
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BSM Sponsors Proprietary Limited is
the nominated JSE Sponsor
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About MC Mining Limited:
MC Mining is an AIM/ASX/JSE-listed
coal exploration, development and mining company operating in South
Africa. MC Mining's key projects include the Uitkomst Colliery
(metallurgical and thermal coal), Makhado Project (hard coking
coal), Vele Colliery (semi-soft coking and thermal coal), and the
Greater Soutpansberg Projects (coking and thermal coal).
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END
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