CLIO Cape Lambert

    RNS Number : 3196G
  Cape Lambert Iron Ore Limited
  21 October 2008
   

    21 October 2008

    CAPE LAMBERT IRON ORE LIMITED

    Cape Lambert Honours Commitment and Confirms
    AUD$ 100M Shareholder Return

    Australian based iron ore company Cape Lambert Iron Ore Limited ("Cape Lambert" or the "Company") (ASX: CFE, AIM: CLIO) has honoured a
commitment made by the Company and approved by shareholders on 28 July 2008, finalising the key terms of the AUD$100M return of capital and
dividend payment. 

    At the record date for the return of capital and dividend (20 October 2008) a total of 462,295,975 CFE Ordinary Shares were on issue and
eligible for the return of capital and dividend payment. As such, the total payment to be made is approximately AUD$0.217 per share and
comprises:

    * return of capital 31.25%, being $0.068 per share; and
    * unfranked dividend 68.75%, being $0.149 per share.

    The return of capital and dividend payment will be issued and dispatched to shareholders on 31 October 2008. 

    Cape Lambert Chairman Tony Sage believes that despite the global financial uncertainty it was important for the Company to honour the
commitment made to shareholders. 

    "At this time of turmoil in global financial markets, it is extremely pleasing that decisions taken by the Board have delivered such a
significant cash return to shareholders."

    "The sale of the Company's flagship asset, to MCC Mining (Western Australia Pty Ltd), a wholly owned subsidiary of Chinese company China
Metallurgical Group Corporation, has positioned Cape Lambert with significant cash reserves which provide the foundation for the Company's
future growth. "Mr Sage said.

    For more information please contact:

 Cape Lambert Iron Ore Limited:                     
 Tony Sage                       +61 (0)8 93809555

 Australian Enquiries:
 Professional Public Relations                      
 David Tasker                    +61 (0)8 9388 0944

 UK Enquiries:
 Nominated Adviser:
 Grant Thornton UK LLP           +44 (0)20 7383 5100
 Fiona Owen


 AIM Broker:
 Collins Stewart Europe Limited

 Adrian Hadden                   +44 (0)20 7523 8353
 Oliver Quarmby                  +44 (0)20 7523 8354

 Conduit PR                                         
 Jos Simson                      +44 (0)20 7429 6603
 Jane Stacy                      +44 (0)20 7429 6606

 Website:                                           
 www.capelam.com.au


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

Cape Lambert Iron Ore (LSE:CLIO)
Historical Stock Chart
From May 2024 to Jun 2024

Cape Lambert Iron Ore (LSE:CLIO)
Historical Stock Chart
From Jun 2023 to Jun 2024