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Central Asia Metals Ltd (LON:CAML)

Central Asia Metals Ltd (LON:CAML)


Share Price
232.50 p
Change
13 (5.92 %)
Market Cap
£409.17 m
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Central Asia Metals Ltd RNS Release

Completion of acquisition and Readmission


RNS Number : 5778V
Central Asia Metals PLC
06 November 2017
 

6 November 2017

CENTRAL ASIA METALS PLC

("CAML" or the "Company")

Completion of the acquisition of Lynx Resources Limited and Readmission

 

Central Asia Metals PLC (AIM: CAML) is pleased to announce the completion of the acquisition of Lynx Resources Limited, owner of the Sasa zinc-lead mine in Macedonia (the "Acquisition"), and that the Company's Enlarged Share Capital has been admitted to trading on AIM ("Readmission").  

 

The Acquisition constitutes a "reverse takeover" under the AIM Rules for the Company and accordingly, the cancellation of CAML's Existing Ordinary Shares from trading on AIM and Readmission occurred simultaneously.

 

Following Readmission, the Company's total issued share capital comprises 176,498,266 ordinary shares (including the 15,278,528 Consideration Shares issued to Orion Co-Investments III L.P on Completion pursuant to the terms of the Acquisition). The Company has 511,647 ordinary shares held in treasury. Accordingly, the total number of voting rights in the Company's shares is 175,986,619 and therefore this figure may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Nick Clarke, Executive Chairman, commented:

 

"CAML is now the owner of the Sasa zinc-lead mine in Macedonia, which means that our company is a newly diversified base metals producer. The low cost nature of Sasa complements our Kounrad operation and we look forward to our future with two long life and cash generative base metal operations in highly prospective jurisdictions. This should enable us to continue to reward our supportive shareholders with attractive returns." 

 

All capitalised terms, unless otherwise defined, shall have the meanings ascribed to them in the Company's Admission Document dated 22 September 2017.

 

For further information please contact:

 

Central Asia Metals plc


Tony Hunter

Company Secretary

 

Tel: +44 (0) 20  7603 1515

Louise Wrathall, Investor Relations

[email protected]

 

Tel: +44 (0) 20 7898 9001 

Peel Hunt (Nominated Adviser & Joint Broker)

Tel: +44 (0) 20 7418 8900

Ross Allister

Richard Crichton

Chris Burrows




J.P. Morgan Cazenove (Financial Adviser)

Tel: +44 (0) 20 7742 4000

Barry Weir

Edward Jack

Nicholas Hall




Mirabaud Securities (Joint Broker)

Tel: +44 (0) 20 3167 7221

Peter Krens




Blytheweigh (PR Advisers)

Tel: +44 (0) 20 7138 3204

Tim Blythe

Camilla Horsfall

Megan Ray


 

Note to editors:

 

Central Asia Metals, an AIM-listed UK company based in London, owns 100% of the Kounrad SX-EW copper project in central Kazakhstan. The Company also owns 80% of the Shuak copper exploration property in northern Kazakhstan. The Company's acquisition of Lynx Resources was completed in November 2017. For further information, please visit www.centralasiametals.com.

Further Information:

J.P. Morgan Securities plc, which conducts its UK investment banking business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority in the United Kingdom. J.P. Morgan Cazenove is acting as financial adviser exclusively for CAML and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than CAML for providing the protections afforded to clients of J.P. Morgan Cazenove or its affiliates, or for providing advice in relation to any matter referred to herein.

 

Peel Hunt LLP ("Peel Hunt"), is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Peel Hunt is acting as nominated adviser and broker exclusively for CAML and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than CAML for providing the protections afforded to clients of Peel Hunt or its affiliates, or for providing advice in relation to any matter referred to herein.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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