Kenmare Resources PLC Statement regarding share price movement (6224B)
January 08 2015 - 1:00AM
UK Regulatory
TIDMKMR
RNS Number : 6224B
Kenmare Resources PLC
08 January 2015
Kenmare Resources plc ("Kenmare" or "the Company")
8 January 2015
Statement regarding share price movement
Kenmare notes the recent significant adverse share price
movement and knows of no reason for the movement.
Further to the announcement of 10 December, the Company
continues to progress constructive discussions with lenders and
their advisors. Lenders and the Company are advancing these
discussions to address any potential default relating to the 31
January budget requirement and provide a basis for a more
sustainable debt structure.
Discussions with Iluka Resources Ltd ("Iluka") have been
continuing, as announced on 17 October. Since this time, Iluka has
been conducting significant technical and non-technical due
diligence, including visits to Dublin Head Office and the Moma
Mine. There can be no certainty that an offer will ultimately be
forthcoming or as to the terms on which any such offer might be
made.
Further updates will be provided in due course.
Kenmare Resources plc
Michael Carvill, Managing Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0110
Tony McCluskey, Financial Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0346
Jeremy Dibb, Corporate Development and Investor Relations
Manager
Tel: +353 1 671 0411
Mob: + 353 87 943 0367
Murray Consultants
Joe Heron
Tel: +353 1 498 0300
Mob: +353 87 690 9735
Buchanan
Bobby Morse / Gordon Poole
Tel: +44 207 466 5000
The Directors of Kenmare accept responsibility for the
information contained in this announcement. To the best of their
knowledge and belief (having taken all reasonable care to ensure
that such is the case), the information contained in this
announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information. This
announcement has not been consented to by Iluka.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise. The distribution of this announcement in
jurisdictions outside Ireland or the United Kingdom may be
restricted by law and therefore persons into whose possession this
announcement comes should inform themselves about, and observe,
such restrictions. Any failure to comply with the restrictions may
constitute a violation of the securities law of any such
jurisdiction.
A person interested in 1% or more of any class of relevant
securities of Kenmare or Iluka may have disclosure obligations
under Rule 8.3 of the Irish Takeover Rules, effective from 26 June
2014, the date of the commencement of the offer period for Kenmare
under the Irish Takeover Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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