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12 Feb 2009 15:11
Ridge Mining PLC
12 February 2009
Ridge Mining PLC ('Ridge' or the 'Company') (AIM: RDG)
Ridge confirms it is currently in discussions with Aquarius Platinum Limited ("Aquarius") which may or may not lead to an offer for Ridge's entire issued and to be issued share capital.
There is no certainty as to the terms and structure of any such transaction nor that an agreement will be reached between the Company and Aquarius. Shareholders are advised to take no action at this time. Any further announcement will be made as appropriate.
Enquiries:
Ridge Mining plc
Francis Johnstone (Commercial Director) Tel + 44 (0) 20 7379 1474
RBC Capital Markets
Martin Eales Tel: +44 (0) 20 7029 7881
Conduit PR
Charlie Geller /Leesa Peters /Gareth Treadway Tel: +44(0) 20 7429 6604
Pursuant to Rule 2.10 of the Code, the Company announces that it has 92,065,533 ordinary shares of US$0.05 each in issue (ISIN GB0004871082).
The distribution of this announcement to jurisdictions other than the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of the Company, all "dealings" in any relevant securities of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 p.m. (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of the Company, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of the potential offeror or of the Company by the potential offeror or the Company or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
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