Ironveld Regulatory News (IRON)

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Mercury Recycling Group plc (to be renamed Ironveld plc)

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Mercury House

Unit 17 Commerce Way

Trafford Park

Manchester

M17 1HW

COUNTRY OF INCORPORATION:

England and Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.mercuryrecycling.co.uk to be become www.ironveld.com following admission

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Mercury Recycling Limited, the Company's wholly-owned trading subsidiary, operates under a Pollution Prevention and Control (PPC) licence from the Government Environment Agency, and is a recycler of fluorescent tubes, street lighting and other discharge lamp types, together with mercury bearing waste streams such as dental amalgam and thermometers. In early 2012, the Group expanded its operations to include the collection, sorting and export of batteries for recycling. The Group operates out of a single site

in Manchester, which is currently one of the largest lamp recycling facilities in Europe.

On 7 March 2012, the Company announced it had entered into a conditional agreement with a wholly-owned subsidiary of Sylvania Platinum Limited ("Sylvania") and Sylvania itself for the acquisition of the Ironveld Group, which has rights to the vanadium-bearing Ti-magnetite iron ore assets of the Sylvania Group, for approximately £13.7 million.

The Ironveld Group has interests in Prospecting Rights in the Northern Limb of the Bushveld Complex north of Mokopane, South Africa. The Rights cover a group of seven adjacent farms, namely Cracouw, Harriets Wish, Aurora, Nonnenwerth and Kransplaats in the Capricorn District Municipality, and La Pucella and Altona in the Waterberg District Municipality, all in Limpopo Province. In total, the Rights cover an area of 165 km2. The Ironveld Group intends to mine the Ti-magnetite iron ore as feedstock for its own pig iron plant.

The consideration for the acquisition comprises the issue of 203,022,285 new Mercury shares, to be issued on completion and distributed to Sylvania's own shareholders. The Company is also proposing to raise £3.0 million (before expenses) through a conditional placing of 44,444,444 new ordinary shares to provide further working capital for the enlarged group.

The acquisition constitutes a reverse takeover under Rule 14 of the AIM Rules.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

285,578,822 Ordinary Shares of 1p each

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Placing of 44,444,444 Ordinary Shares at 6.75p per Ordinary Share to raise £3,000,000

Approximate market capitalisation of £19.3 million on Admission at the placing price

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

18.7%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

N/A

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Charles Giles Clarke CBE (Non-Executive Director)

John Nicholas Harrison (Non-Executive Director)

Peter John Cox (Chief Executive)

Terence Michael McConnachie (Non-Executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Before Admission

After Admission

* Charles Giles Clarke and John Nicholas Harrison have interests in shares in the Company through their shareholding in Westleigh Investments Holdings Limited (of which they are also directors) which before admission holds 5,319,877 shares and after admission will hold 9,023,581 shares

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 31 December

(ii) 31 December 2011

(iii) As follows:

a. 6 months ended 30 June 2012 by 30 September 2012

b. Year ending 31 December 2012 by 30 June 2013

c. 6 months ended 30 June 2013 by 30 September 2013

EXPECTED ADMISSION DATE:

16 August 2012

NAME AND ADDRESS OF NOMINATED ADVISER:

Shore Capital and Corporate Limited

Bond Street House

14 Clifford Street

London W1S 4JU

NAME AND ADDRESS OF BROKER:

Shore Capital Stockbrokers Limited

Bond Street House

14 Clifford Street

London W1S 4JU

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Copies of this document will be available for inspection during normal business hours on any weekday, Saturdays and public holidays excepted, at the offices of Kuit Steinart Levy LLP, 3 St Mary's Parsonage, Manchester M3 2RD from the date of this Document until one month from the date of Admission. This Document is also available on the Company's website at www.mercuryrecycling.co.uk.

DATE OF NOTIFICATION:

27 July 2012

NEW/ UPDATE:

NEW