KMR Kenmare Resources Plc

 
TIDMKMR 
 
 
   Kenmare Resources plc ("Kenmare" or "the Company") 
 
   7 December 2015 
 
 
 
 
   Announcement in relation to the withdrawal of the approach from Iluka 
Resources Limited ("Iluka") 
 
   Kenmare notes the statement made by Iluka today that it does not intend 
to make an offer for Kenmare. 
 
   As publicly disclosed, Iluka first proposed a combination of Iluka and 
Kenmare in June, 2014 and since then Kenmare has provided certain 
updates in relation to the proposed combination and its terms. At all 
times Iluka has retained the right to change the terms of, and not to 
proceed with, its proposal at its absolute discretion. 
 
   As announced by Iluka, despite significant progress having been made in 
securing satisfaction of many of the pre-conditions that Iluka required 
be fulfilled prior to proceeding to express a firm intention to make an 
offer, it has not proved possible for Iluka to satisfy certain of its 
pre-conditions.  Accordingly, Iluka has confirmed that it does not 
currently intend to make an offer for Kenmare. 
 
   Following the withdrawal of the Iluka approach, and the related lifting 
of the restrictions on the Company that applied during the offer period, 
Kenmare is now focused on securing the independent future of the Company 
in the interests of all of its stakeholders. A separate announcement in 
relation to the initiatives for a material deleveraging of the Group is 
being made today. 
 
   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 / Anna Michniewicz 
 
   Tel: +44 207 466 5000 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Kenmare Resources via Globenewswire 
 
   HUG#1971647 
 
 
  http://www.kenmareresources.com/ 
 

(END) Dow Jones Newswires

December 07, 2015 02:00 ET (07:00 GMT)

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