Rns...1 May 2013 10:16
RNS Number : 7049D
DMCI Holdings Inc.
01 May 2013

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION FOR IMMEDIATE RELEASE 1 May 2013 Recommended Cash Offer by DMCI Mining Corporation for Toledo Mining Corporation PLC UPDATE ON ACCEPTANCES AND CLOSING OF OFFER Introduction On 15 February 2013, DMCI Mining Corporation, a wholly-owned subsidiary of DMCI Holdings, announced that it had increased its stake in Toledo to approximately 37.7 per cent. As a result, DMCI Mining confirmed that it would make a cash offer to acquire the entire issued and to be issued share capital of Toledo not already owned by DMCI Group. The Offer was declared wholly unconditional on 2 April 2013. Level of Acceptances As at 1.00 p.m. (London time) on 30 April 2013, the closing date of the Offer, DMCI Mining had received valid acceptances in respect of a total of 13,632,902 Toledo Shares. These acceptances include those received in respect of 2,501,019 Toledo Shares which were subject to a letter of intent procured by DMCI Mining from World Fund PTE Limited. As at 1.00 p.m. (London time) on 30 April 2013, DMCI Mining had not received a valid acceptance in respect of 1,300,000 Toledo Shares which were subject to a letter of intent procured by DMCI Mining from Alfredo C. Ramos. On 5 March 2013, being the date of the Offer, DMCI Mining owned 18,818,344 Toledo Shares. DMCI Mining acquired a further 615,000 Toledo Shares at or below the Offer Price through market purchases. In addition, DMCI Mining has acquired 275,000 Toledo Shares that were issued upon the exercise of share options held by certain members of Toledo's management team. Therefore, DMCI Mining now owns or has received valid acceptances in respect of a total of 33,341,246 Toledo Shares, representing approximately 66.5 per cent. of the existing issued share capital of Toledo. Offer Closed The Offer is now closed and is no longer capable of acceptance. Settlement The consideration to which any Toledo Shareholder is entitled under the Offer in respect of valid acceptances received on or before 16 April 2013 was settled on or before 30 April 2013 in the manner described in the Offer Document. The consideration to which any Toledo Shareholder is entitled under the Offer in respect of valid acceptances received after 16 April 2013 will be settled within 14 calendar days of such receipt in the manner described in the Offer Document. Interests in relevant securities Save for the interests set out below, as at 1.00 p.m. (London time) on 30 April 2013, none of DMCI Mining, DMCI Holdings, the DMCI Mining Directors, the DMCI Holdings Directors nor (so far as DMCI Mining is aware) any person acting in concert with DMCI Mining or DMCI Holding