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African Copper Share News (ACU)
Share News for African Copper (ACU)
| Share Price: 1.625 | Bid: 1.25 | Ask: 1.50 | Change: 0.25 (+18.18%) |  | ||||||
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UPDATE 1-African Copper settles Natasa claims, shares up
Wed, 3rd Jun 2009 09:04
LONDON, June 3 (Reuters) - African Copper Plc said on Wednesday it has settled all claims made
Natasa has therefore withdrawn its petition for the provisional liquidation of Messina Copper, African Copper said in a brief statement.
Natasa demanded repayment of bonds issued by Messina and lodged a petition for the winding-up of the unit after African Copper rebuffed a takeover bid in favour of one from mining investment company Zambia Copper Investments.
In April Zambia Copper made a $22.5 million offer, including some financing, for 69.7 percent of African Copper, thereby trumping a $15 million offer from Natasa.
Last month Zambia Copper agreed a further $25.4 million financing package to enable African Copper to meet Natasa's demands.
African Copper's shares were up 6.8 percent at 9.9 pence at 0732 GMT, valuing the company at 81.52 million pounds ($135 million), after the shares earlier jumped as high as 11.25 pence.
($1=.6022 pounds)
(Reporting by Victoria Bryan; Editing by Greg Mahlich) Keywords: AFRICANCOPPER NATASA/
(victoria.bryan@thomsonreuters.com; +44 207 542 9688; Reuters Messaging: victoria.bryan.thomsonreuters@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
LONDON, June 3 (Reuters) - African Copper Plc said on Wednesday it has settled all claims made
against its Botswana unit Messina Copper by investment firm Natasa Mining Ltd , sending its shares higher.
Natasa has therefore withdrawn its petition for the provisional liquidation of Messina Copper, African Copper said in a brief statement.
Natasa demanded repayment of bonds issued by Messina and lodged a petition for the winding-up of the unit after African Copper rebuffed a takeover bid in favour of one from mining investment company Zambia Copper Investments.
In April Zambia Copper made a $22.5 million offer, including some financing, for 69.7 percent of African Copper, thereby trumping a $15 million offer from Natasa.
Last month Zambia Copper agreed a further $25.4 million financing package to enable African Copper to meet Natasa's demands.
African Copper's shares were up 6.8 percent at 9.9 pence at 0732 GMT, valuing the company at 81.52 million pounds ($135 million), after the shares earlier jumped as high as 11.25 pence.
($1=.6022 pounds)
(Reporting by Victoria Bryan; Editing by Greg Mahlich) Keywords: AFRICANCOPPER NATASA/
(victoria.bryan@thomsonreuters.com; +44 207 542 9688; Reuters Messaging: victoria.bryan.thomsonreuters@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
BRIEF-African Copper says review by major shareholder is ongoing
LONDON, April 16 (Reuters) - African Copper PLC: * Says strategic review by 84.19 percent shareholder ZCI is ongoing * Says process ma[16 Apr '12]
BRIEF-African Copper says production jumps in Q1 and Q2
LONDON, Nov 15 (Reuters) - African Copper PLC: * Production for the first and second quarters was 176 per cent and 53 per cent highe[15 Nov '11]
BRIEF-African Copper expects to trade in line with trading update of May 19
LONDON, June 28 (Reuters) - African Copper PLC: * Expects to trade in line with the company's trading update of 19 may 2011 * Notes tr[28 Jun '11]
BRIEF-African Copper gets mining licence for Thakadu deposit in Botswana
LONDON, Dec 14 (Reuters) - African Copper Plc: * Receipt of mining licence for the thakadu copper-silver deposit ((London Equities Ne[14 Dec '10]
BRIEF-African Copper gets interim licence at Botswana site, shares rise
LONDON, Dec 13 (Reuters) - African Copper Plc: * Statement re share price movement * Has received an interim mining licence for the Th[13 Dec '10]
BRIEF-African Copper says solid progress made towards Mowana commercial output
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BRIEF-African Copper says crushing units being brought up to full capacity
LONDON, May 4 (Reuters) - African Copper Plc: * Says Mobile crushing units purchased and commissioned, now being brought up to full[4 May '10]
BRIEF-African Copper to receive $10 mln from ZCI for Mowana
LONDON, April 1 (Reuters) - African Copper Plc: * Will receive US$10 million immediately from s'holder zambia copper (ZCI) for Mowana mine[1 Apr '10]
