Afferro Mining Inc. Amendment to Outside Date (2132R)
October 23 2013 - 6:00AM
UK Regulatory
TIDMAFF
RNS Number : 2132R
Afferro Mining Inc.
23 October 2013
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION
TO US NEWS WIRE SERVICES.
23 October 2013
AFFERRO MINING INC. (AFF)
and
INTERNATIONAL MINING & INFRASTRUCTURE CORPORATION PLC
("IMIC")
Amendment to Outside Date and
Intention of Afferro to Delist from AIM and TSX-V
Afferro Mining Inc. ("Afferro" or the "Company") and
International Mining & Infrastructure Corporation plc ("IMIC")
have agreed to amend the Arrangement Agreement details of which
were announced on 24 June 2013, 18 July 2013 and 13 September 2013,
pursuant to which IMIC, through its wholly owned subsidiary,
Afferro Holdings Ltd., will acquire all of the issued and to be
issued common share capital of the Company (the "Arrangement").
The amendments provide for the extension of the outside date to
26 November 2013. In addition to the approval of the shareholders
of IMIC, the Arrangement remains subject to, inter alia, the
satisfaction or waiver of the conditions to closing. It is expected
that the Arrangement will complete prior to 26 November 2013.
Afferro has applied for the cancellation of its shares from
admission to the AIM Market of the London Stock Exchange
("Cancellation"). Following completion of the Arrangement, the
Company's shares will also be de-listed from the TSX-V. The
Cancellation is currently expected to take place at 07:00 (GMT) on
a date no earlier than 21 November 2013 and no later than 26
November 2013. These dates are subject to change and confirmation
on the final timetable for the Arrangement. Following completion of
the Arrangement and the Cancellation, Afferro's shareholders will
cease to hold shares in the Company and accordingly no dealings in
Afferro's shares will be able to be effected.
Afferro Mining Inc.
www.afferro-mining.com
+44 (0) 20 7010 7680
Luis da Silva / Jeremy Cave
Canaccord Genuity Limited
Financial Adviser
+44 (0) 20 7523 8000
Melissa So / Joe Weaving
Investec Bank Plc
Nominated Adviser and Joint Broker
+44 (0) 20 7597 5970
Chris Sim / Jeremy Ellis / George Price
RBC Capital Markets
Joint Broker
+44 (0) 20 7653 4000
Martin Eales / Richard Hughes
Pelham Bell Pottinger
Public Relations Adviser
+44 (0) 20 7861 3232
Daniel Thöle /James MacFarlane
International Mining and Infrastructure Corporation plc
www.imicplc.com
+44 (0) 20 7290 3340
Haresh Kanabar/Ousmane Kane/James Ward
Bank of America Merrill Lynch
Financial Adviser
+44 (0) 20 7628 1000
Omar Davis/Ken McLaren
Ocean Equities Limited
Joint Broker
+44 (0) 20 7786 4370
Guy Wilkes/Will Slack
WH Ireland Limited
Nominated Adviser and Joint Broker
+44 (0) 117 945 3470
Mike Coe
Buchanan
Media and Investor Relations Adviser
+44 (0) 20 7466 5000
Mark Court/Fiona Henson/Sophie Cowles
About Afferro
Afferro is an established exploration and development company
listed on the TSX-V (AFF) and AIM (AFF). Afferro's portfolio
includes the 100% owned Nkout, Ntem and Akonolinga iron ore
projects. It also holds a 70% interest in the Ngoa project, an
exploration target bordering Nkout. All projects are subject to
government rights. Nkout has an Indicated Mineral Resource Estimate
of 1.6Bt at 33.3% Fe and an Inferred Mineral Resource Estimate of
0.9Bt at 30.8% Fe. Ntem has an Indicated Mineral Resource Estimate
of 39.1Mt at 34.0% Fe and an Inferred Mineral Resource Estimate of
76.4Mt at 34.2% Fe.
About IMIC
IMIC in conjunction with its privately held strategic partner
African Iron Ore Group (AIOG), is working to unlock value in the
metals and mining industry in West and Central Africa by providing
infrastructure solutions, for railways, deep-water ports, power
and/or iron ore beneficiation, that will allow the region's
emerging iron ore projects to develop into globally significant
export operations.
IMIC and AIOG are well positioned to partner African host
countries in the delivery of infrastructure arrangements, and to
assist with initiatives that best address the long-term aspirations
of their governments and people.
China, as consumer of 70% of the world's seaborne iron ore, is
key to this opportunity. A best in breed alliance of Chinese
construction and equipment groups and iron ore off-takers has been
carefully assembled to provide funding and delivery of projects and
onward sale of iron ore.
AIOG's major infrastructure project, in partnership with IMIC,
is the Simandou South iron ore project in the Republic of Guinea,
where there is an agreement with the Guinean government to deliver
a multi-purpose, multi-user infrastructure solution which
ultimately could become the backbone of the country's transport
network.
IMIC also takes strategic stakes in junior miners with the
intention of benefiting from the uplift in value once an
infrastructure solution is initiated.
IMIC shares are traded on the London Stock Exchange's AIM market
under the ticker symbol IMIC.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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