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Founders apply to delist Kazakh miner ENRC

Fri, 25th Oct 2013 10:19

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LONDON, Oct 25 (Reuters) - The founders of Kazakh miner ENRC, whose bid to buy out minority shareholders wentunconditional on Friday, have applied to UK regulators and theLondon Stock Exchange to delist the company.

The trio of billionaire founders, who launched the bidalongside the Kazakh government, said in a statement that ENRCwould now re-register as a private company.

Shareholders representing 96.7 percent of ENRC shares haveaccepted the bid. Outstanding investors will either tender theirstock, or remain minority holders in a private company.

ENRC listed in London in 2007, but has been hit by boardroomtroubles, corruption investigations and weaker commodity prices.Its shares have dropped some 80 percent from a 2010 peak.

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24 May 2013 15:42

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ENRC suffers two potential losses of company data

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23 May 2013 10:01

ENRC says its systems have been hacked

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