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8 May 2017 07:00
ASX ANNOUNCEMENT | 8 May 2017 |
IN SPECIE DISTRIBUTION
UPDATE
Metminco Limited (Metminco or the Company) (ASX: MNC; AIM: MNC) announced on 24 October 2016 that the agreement whereby CD Capital Natural Resources Fund III LP (CD Capital) undertook to make an equity investment of up to US$45 million in Los Calatos Holdings Ltd (LCH) has been settled (Investment Agreement). As per the Investment Agreement with CD Capital, the Company is to use its "best endeavours" to distribute at least 90% of its holding in Hampton Mining Pty Ltd (Hampton) to its shareholders within six months (In Specie Distribution). Hampton is a wholly owned subsidiary of Metminco which is to hold 100% of the Company's interest in LCH (owner of the Los Calatos Project).
Over the last 6 months the Company has been engaged in resolving complex funding, legal and tax arrangements relating to the distribution. Due to the complex nature of a number of factors influencing the distribution, the distribution has been delayed and CD Capital is fully apprised of the situation and is working with the Company. The Company will advise further details in due course.
William Howe
Managing Director
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Metminco Limited ABN 43 119 759 349 ASX Code: MNC.AX; AIM Code: MNC.L | Suite 401, 6 Help Street, Chatswood NSW, 2067 Tel: +61 (0) 2 9460 1856; Fax: +61 (0) 2 9460 1857 | |
www.metminco.com.au | ||
For further information, please contact: METMINCO LIMITED | ||
Phil Killen | Office: +61 (0) 2 9460 1856 | |
NOMINATED ADVISOR AND BROKER | ||
RFC Ambrian | ||
Australia | ||
Will Souter / Nathan Forsyth | Office: +61 (0) 2 9250 0000 | |
United Kingdom | ||
Charlie Cryer | Office: +44 (0) 20 3440 6800 | |
JOINT BROKER | ||
SP Angel Corporate Finance LLP (UK) | ||
Ewan Leggat | Office: +44 (0) 20 3470 0470 | |
PUBLIC RELATIONS | ||
Camarco United Kingdom | ||
Gordon Poole / Tom Huddart | Office: + 44 (0) 20 3757 4997 |
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