6 Dec 2007 09:17
METOREX LIMITED Company Announcement 6 December 2007
Metorex launches Offer to Minority Shareholders of Cop Issued by Metorex per Resources Corporation [`CRC'] Limited Shareholders of Metorex are referred to the announcement 6 December 2007 dated 6 November 2007 whereby Shareholders were advised that the making of the formal offer for CRC was For further conditional upon: information contact: 1. The United Kingdom Listing Authority [`UKLA']
approving the issue of a prospectus required to be Charles Needham
submitted together with the offer, and Chief Executive 2. Metorex entering into certain underwriting Officer agreements to fund the cash alternative of the offer. Tel: +27 11 880 3155 Metorex is pleased to announce that both of these conditions have now been fulfilled, and accordingly, the Fax: +27 11 880 formal offer document together with the prospectus has 3322 now been posted to CRC shareholders. JSE; LSE, Under the terms of the offer, CRC Shareholders will be ADR-BoNY entitled to receive 0.73 of a New Metorex Share for each
CRC share, or may elect to receive cash instead of New Registered
Metorex Shares in respect of some or all of their CRC office:
shares. The cash alternative will be 125.1 pence in cash for each CRC share. Cradock Heights The proposed acquisition of CRC is in accordance with 21 Cradock Avenue Metorex's objective of developing long-life, quality orebodies and would represent a further addition of Rosebank significant copper interests in the DRC, which complements Metorex's current asset base. Johannesburg The offer will initially be open for acceptance until South Africa. 15h00 (GMT) on 28 December 2007. Charles Needham, CEO of Metorex, said: `We believe the offer is very attractive to shareholders, with the option of cash or Metorex shares. CRC shareholders will get an increased exposure to the mineral-rich DRC opportunities, a great spread of risk through a diversified portfolio, Metorex's project development expertise and an experienced management team with a proven track record. Metorex has significant experience and expertise in fast-tracking the development and financing of projects in the DRC and the sub-Saharan region generally.'
Metorex Limited Johannesburg South Africa ENDS
COPPER RESOURCES CORPORATION