KMR Kenmare Resources Plc

 
TIDMKMR 
 
 
   Kenmare Resources plc ("Kenmare" or "the Company" or "the Group") 
 
   11 March 2021 
 
   Update on migration of uncertificated shares 
 
   from CREST to the Euroclear Bank system 
 
   Kenmare confirms that it has taken all steps required to be taken by it 
in connection with the proposed migration of the electronic holding and 
settlement of its shares from the CREST system to the Euroclear Bank 
system ("Migration"). 
 
   Migration is expected to take effect on Monday, 15 March 2021, with the 
migration to Euroclear Bank of the holding and settlement of the 
securities of all Irish companies with securities that are listed and 
traded in Dublin and/or London. 
 
   Migration 
 
   As previously announced, at the extraordinary general meeting of the 
Company held on 21 January 2021 (the "EGM") shareholders approved the 
Migration and authorised the Board to take all steps necessary to 
implement it. 
 
   In accordance with the terms of the Migration of Participating 
Securities Act 2019 and these authorities, the Company has consented to 
the Migration and has made the requisite notifications to the Irish 
Companies Registration Office and Euronext Dublin. Accordingly, all 
steps required to be taken by the Company to give effect to Migration 
have now been completed. 
 
   Timetable for Migration 
 
   Euronext Dublin announced on 8 March 2021 that Market Migration remains 
scheduled to occur over the weekend of 12-15 March 2021 in line with the 
indicative timetable that was included in the Company's circular to 
Shareholders in relation to the EGM dated 23 December 2020 (the "EGM 
Circular"). Euronext Dublin has advised that the 'live date' on which 
Migration is to take effect is 15 March 2021. This timetable remains 
subject to change by decision of Euronext Dublin. 
 
   Euronext Dublin maintains a dedicated web page relating to Market 
Migration (on which details of the timetable and other relevant details 
can be found) at the following link: 
https://www.euronext.com/en/migration-csd-services-for-irish-securities-crest-euroclear-bank 
 
 
   Actions to be taken by Kenmare shareholders 
 
   For Kenmare shareholders who hold their shares in paper form (i.e. 
outside of CREST and in "certificated" form) there will be no change to 
what is owned and how it is held. Therefore, the impact of Migration on 
such shareholders is expected to be minimal and no immediate action is 
required. 
 
   For Kenmare shareholders who hold their shares through CREST (in 
uncertificated form), Migration will result in changes to what is 
technically owned, how the interest is held, and how rights related to 
the shares will be exercised. Details of those changes are set out in 
the EGM Circular. Specifically: 
 
 
   -- Retail shareholders who hold their shares electronically in CREST - 
      through a broker, custodian or nominee - will continue to hold their 
      interest through that broker, custodian or nominee, as a CREST Depository 
      Interest or (assuming the broker, custodian or nominee is or becomes a 
      participant in the Euroclear System in the way they are in CREST) as a 
      Belgian Law Right in the Euroclear System. 
 
   -- Institutional shareholders who hold their Shares electronically in CREST 
      directly in their own name (i.e. as a CREST member), will continue to be 
      able to hold their interests in shares directly in their own name as a 
      CREST Depository Interest or (provided they become a participant in the 
      Euroclear Bank system) as a Belgian Law Right in the Euroclear Bank 
      system. Where such shareholders wish to hold in the Euroclear Bank system 
      but are not or do not become a Euroclear Bank participant, they will need 
      to enter into an arrangement with a broker, custodian or nominee who is a 
      participant, so that they can hold the relevant interest for them. 
 
 
   If they have not done so already, Kenmare shareholders holding their 
shares in CREST are strongly encouraged to consult with their 
stockbroker or other intermediary at the earliest opportunity. Migration 
will result in a significant change in both the form and nature of 
shareholding in the Company, and the substance of, and manner in which, 
rights can be exercised. In particular, Migration will result in 
important changes to the processes and timelines for submitting proxy 
voting instructions for the Company's forthcoming AGM. Shareholders 
should familiarise themselves with the new processes and timelines, and 
ensure all necessary actions have been taken on their part and by their 
stockbroker or other intermediary, to ensure they can continue to enjoy 
their rights as a Kenmare shareholder in the context of the new 
Euroclear system. 
 
   Important notes 
 
   Unless the context otherwise required, defined terms used in this 
announcement have the meanings given to them in Part 9 of the EGM 
Circular. 
 
   For further information, please contact: 
 
   Kenmare Resources plc 
 
   Jeremy Dibb 
 
   Investor Relations 
 
   https://www.globenewswire.com/Tracker?data=7ukLHe3lC-pe-vr0sKdQIqKsivLlDulGE6DD_7ETODjjELXMfScvHiaBV-L_wZYWDOkE_l5kKFKLZt7Yy-N_FpckOHfIn-hpOAKYwg853FY= 
ir@kenmareresources.com 
 
   Tel: +353 1 671 0411 
 
   Mob: + 353 87 943 0367 
 
   Murray (PR advisor) 
 
   Joe Heron 
 
   Tel: +353 1 498 0300 
 
   Mob: +353 87 690 9735 
 
   About Kenmare Resources 
 
   Kenmare Resources plc is one of the world's largest producers of mineral 
sands products. Listed on the London Stock Exchange and the Euronext 
Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. 
Moma's production accounts for approximately 7% of global titanium 
feedstocks and the Company supplies to customers operating in more than 
15 countries. Kenmare produces raw materials that are ultimately 
consumed in everyday "quality-of life" items such as paints, plastics 
and ceramic tiles. 
 
   Forward Looking Statements 
 
   This announcement contains some forward-looking statements that 
represent Kenmare's expectations for its business, based on current 
expectations about future events, which by their nature involve risks 
and uncertainties. Kenmare believes that its expectations and 
assumptions with respect to these forward-looking statements are 
reasonable. However, because they involve risk and uncertainty, which 
are in some cases beyond Kenmare's control. Actual results or 
performance may differ materially from those expressed or implied by 
such forward-looking information. 
 
 
 
 

(END) Dow Jones Newswires

March 11, 2021 02:00 ET (07:00 GMT)

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