Market Update -- Centamin Gains Controlling Interest in Ampella Mining
26 Febbraio 2014 - 8:00AM
Marketwired
Market Update -- Centamin Gains Controlling Interest in Ampella
Mining
PERTH, AUSTRALIA--(Marketwired - Feb 26, 2014) - Centamin plc
("Centamin" or "the Company") (LSE: CEY) (TSX: CEE) -- Further to
the announcements of 10 December 2013 and 13 January 2014, Centamin
declared, on 20 February 2014, that its off-market takeover offer
for Ampella was free from all defeating conditions pursuant to a
notice filed on the Australian Stock Exchange ("ASX") and
ASIC. Accordingly, the offer is now unconditional.
As at 7.00pm (Sydney time) on 24 February 2014, Centamin,
through its wholly owned subsidiary, Centamin West Africa Holdings
Limited ("CWA"), had a relevant interest in 126,321,285 shares or
51.14% in Ampella Mining Limited ("Ampella").
This gives Centamin the right under the offer to appoint a
majority of the directors to the board of Ampella and to take
effective control of all operational matters concerning
Ampella. Centamin has requested that Paul Kitto, Ron Renton
and Michael Anderson resign from the board of Ampella and has
nominated Josef El-Raghy, Mark Arnesen and Heidi Brown to be
appointed as directors of Ampella. Peter Mansell and Ronnie
Beevor shall continue as non-executive directors of Ampella until
the earlier of Ampella de-listing from the ASX or CWA acquiring a
relevant interest in 90% of the shares in Ampella.
Josef El-Raghy, Chairman of Centamin, commented:
"We are pleased to have successfully gained control of Ampella
and thank the outgoing directors for their support during this
recommended offer process. We also recognise the key contribution
that Dr Paul Kitto has made to establishing a significant new gold
province in Burkina Faso and we welcome his future involvement with
our management group so that we may continued to discover and
develop gold projects in this area and the wider region."
For more information please contact: Centamin plc Josef
El-Raghy, Chairman Andy Davidson, Head of Business Development and
Investor Relations (andy.davidson@centamin.je) +44 (0) 1534 828708
Buchanan Bobby Morse Gordon Poole Gabriella Clinkard + 44 (0) 20
7466 5000
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