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Announcement re Iluka Resources Limited

29 Jul 2016 07:18

RNS Number : 6280F
Sierra Rutile Limited
29 July 2016
 

 

Sierra Rutile Limited

 

FOR IMMEDIATE RELEASE

 

London, UK, 29 July 2016: The Board of Sierra Rutile Limited (AIM:SRX) ("Sierra Rutile" or the "Company") notes the announcement made today by Iluka Resources Limited ("Iluka") and confirms that it has received an approach for the issued and to be issued share capital of the Company at a price of 36 pence per ordinary share in cash. Discussions are at an advanced stage, however, there can be no certainty that an offer will be made or as to the terms of any such offer. As a result, shareholders are urged to take no action at this time. A further announcement will be made in due course as appropriate.

The Company is not subject to the UK Code on Takeovers and Mergers ("Code") and, therefore, the Code will not apply to any transaction involving the Company.

This announcement contains inside information in relation to Sierra Rutile.

 

ENDS

 

For further information

 

Sierra Rutile Limited

John Sisay, Chief Executive Officer

 

 

+44 (0)20 7074 1800

 

Investec Bank

Nominated Adviser and Joint Corporate Broker

Chris Sim / George Price / Jeremy Ellis

 

 

+44 (0)20 7597 4000

Numis Securities Limited

Joint Corporate Broker

John Prior / James Black / Paul Gillam

 

 

+44 (0)20 7260 1000

RBC Capital Markets

Joint Corporate Broker

Jonny Hardy / Elliot Thomas

 

 

+44 (0)20 7653 4000

Kreab

Christina Clark / Fiona Cumberland

 

+44 (0)20 7074 1800

 

 

About Sierra Rutile Limited

 

Sierra Rutile is a leading, multi-mine mineral sands company, operating world-class assets and developing a portfolio of growth projects in the south west of Sierra Leone, with its primary commodity mined being natural rutile, a titanium feedstock. The Company has an established operating history spanning approximately 50 years and a resource mine life of another 50 years with one of largest natural rutile deposits in the world and a JORC-Compliant Mineral Resource for measured, indicated and inferred resources for the Sierra Rutile mine of over 866 million tonnes (as at 30 September 2015). Sierra Rutile expects to be the world's largest primary producer of natural rutile in 2016.

 

www.sierra-rutile.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCGLGDRXBDBGLC
Date   Source Headline
7th Dec 20167:30 amRNSSuspension - Sierra Rutile Limited
6th Dec 201612:56 pmRNSMerger Update
5th Dec 20167:00 amRNSForm 8.3 - Iluka Resources
2nd Dec 20167:00 amRNSForm 8.3 - Iluka Resources
29th Nov 20167:00 amRNSMerger Update
25th Nov 20167:00 amRNSMerger Update
22nd Nov 20167:00 amRNSForm 8.3 - [offeree/offeror] - Iluka Resources
21st Nov 20162:39 pmRNSGerman Antitrust Authority Clearance Granted
17th Nov 20167:00 amRNSForm 8.3 - Iluka Resources
4th Nov 201610:00 amRNSMerger Update
3rd Nov 20167:00 amRNSRefinancing of Bank Facilities
3rd Nov 20167:00 amRNSForm 8.3 - Iluka Resources
27th Oct 20167:00 amRNSForm 8.3 - Iluka Resources Limited
26th Oct 20167:00 amRNSMerger Update
21st Oct 20167:00 amRNSQ3 2016 Operational Update
18th Oct 20167:00 amRNSForm 8.3 - Iluka Resources Limited
30th Sep 20167:09 amRNSSierra Rutile Limited H1 2016 Interim Results
29th Sep 20167:00 amRNSForm 8.3 - Iluka Resources Limited
26th Sep 20167:00 amRNSForm 8.3 - Iluka Resources Limited
15th Sep 20167:00 amRNSMerger Update
14th Sep 20167:00 amRNSMerger Update
6th Sep 20167:04 amRNSMerger Update
5th Sep 20167:00 amRNSForm 8.3 - Iluka Resource Ltd
2nd Sep 20167:00 amRNSForm 8.3 - Iluka Resources Limited
1st Sep 20164:28 pmRNSMerger Update
1st Sep 20167:00 amRNSForm 8.3 - Iluka Resources
25th Aug 20167:00 amRNSMerger Update
22nd Aug 20167:00 amRNSForm 8.3 - Iluka Resources Limited
12th Aug 20167:00 amRNSForm 8.3 - Iluka Resources Limited
11th Aug 20167:00 amRNSForm 8.3 - Iluka Resources Limited
10th Aug 20167:00 amRNSForm 8.3 - Iluka Resources Limited
9th Aug 20167:00 amRNSStatement regarding disposal of company or assets
9th Aug 20167:00 amRNSForm 8.3 - Iluka Resources Limited
3rd Aug 20167:00 amRNSForm 8.3 - Iluka Resources Limited
2nd Aug 20167:00 amRNSForm 8.3 - Iluka Resources Ltd.
1st Aug 20167:00 amRNSRecommended proposal for Sierra Rutile by Iluka
1st Aug 20167:00 amRNSForm 8.3 - Iluka Resources Ltd.
29th Jul 20167:18 amRNSAnnouncement re Iluka Resources Limited
15th Jul 20167:00 amRNSQ2 and Half-Year 2016 Operational Update
6th Jul 20163:43 pmRNSResults of AGM
2nd Jun 20167:00 amRNSSuccessful Gangama Dry Mine Commissioning
31st May 20167:00 amRNSTotal Voting Rights and Block Listing Return
28th Apr 20167:00 amRNSAnnual Financial Report and Accounts
26th Apr 20167:00 amRNSOperational Update
21st Apr 20167:00 amRNSNotification of Major Interest in Shares
21st Apr 20167:00 amRNSNotification of Major Interest in Shares
19th Apr 20168:50 amRNSAdmission Announcement
15th Apr 20162:08 pmRNSFull Exercise of Bookrunner Option
14th Apr 20167:00 amRNSSuccessful placing of $20.0 million in new equity
31st Mar 20167:00 amRNSPreliminary Results

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