Metminco Limited Statement re Meeting 2 March 2018 (0822G)
February 27 2018 - 4:41AM
UK Regulatory
TIDMMNC
RNS Number : 0822G
Metminco Limited
27 February 2018
AIM ANNOUNCEMENT 27 February 2018
METMINCO CANCELS MEETING TO BE HELD 2 MARCH 2018
Metminco Limited ("Metminco" or the "Company") (ASX: MNC; AIM:
MNC) advises that today it received a request from Redfield Asset
Management Pty Ltd ("Redfield") to cancel the Extraordinary General
Meeting to be held on 2 March 2018.
Redfield wishes to redeem its notes under the Unsecured
Convertible Note Deed dated on or about 17 May 2017 between
Redfield and Metminco (Note Deed). Accordingly, the Company and
Redfield have executed a Deed to Redeem which means Redfield no
longer wish to convert the notes as per the Note Deed and therefore
the Extraordinary General Meeting to be held on 2 March 2018 will
not be required.
At that Extraordinary General Meeting, called at the request of
Redfield, shareholders were to consider a resolution relating to
item 7, section 611 of the Corporations Act 2001 (Cth) for the
issue of shares to Redfield pursuant to the conversion of notes and
exercise of options which would allow Redfield's shareholding to go
above 20%.
Shareholders who have received the Notice of General Meeting can
dispose of it without taking any further steps.
The Deed to Redeem states that Redfield will be paid (currently
approximately A$830,000 being principal plus capitalised costs of
finance). It is intended that the payment will be made from the
proceeds of any future capital raising. The Company is also
conducting what were confidential and incomplete discussions to
raise capital to supplement its cash position at 31 December 2017
(approximately A$833,000). There can be no guarantee that securing
these funds will be successful.
The Company also advises that further to the announcement of 8
February 2018 Lanstead Capital LP ("Lanstead") and Lanstead III LLC
("Lanstead III") (together "the Lanstead Parties") are not
associates and consequently there is no change to the previously
disclosed position that they are separate Significant Shareholders
only.
William Howe
Managing Director
For further information,
please contact:
METMINCO LIMITED
Graeme Hogan Office: +61 (0) 2
9460 1856
NOMINATED ADVISOR AND BROKER
RFC Ambrian
Australia
Andrew Thomson / Alena Broesder Office: +61 (0) 2
9250 0000
United Kingdom
Charlie Cryer Office: +44 (0) 20
3440 6800
JOINT BROKER
SP Angel Corporate Finance
LLP (UK)
Ewan Leggat Office: +44 (0) 20
3470 0470
PUBLIC RELATIONS
Camarco
United Kingdom
Gordon Poole / Nick Hennis Office: + 44 (0) 20
3757 4997
Media + Capital Partners
Australia
Luke Forrestal Office: +61 (0) 411
479 144
Forward Looking Statement
All statements other than statements of historical fact included
in this announcement including, without limitation, statements
regarding future plans and objectives of Metminco are
forward-looking statements. When used in this announcement,
forward-looking statements can be identified by words such as
"anticipate", "believe", "could", "estimate", "expect", "future",
"intend", "may", "opportunity", "plan", "potential", "project",
"seek", "will" and other similar words that involve risks and
uncertainties.
These statements are based on an assessment of present economic
and operating conditions, and on a number of assumptions regarding
future events and actions that, as at the date of this
announcement, are expected to take place. Such forward-looking
statements are not guarantees of future performance and involve
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are beyond the control of the
Company, its directors and management of Metminco that could cause
Metminco's actual results to differ materially from the results
expressed or anticipated in these statements.
The Company cannot and does not give any assurance that the
results, performance or achievements expressed or implied by the
forward-looking statements contained in this announcement will
actually occur and investors are cautioned not to place undue
reliance on these forward-looking statements. Metminco does not
undertake to update or revise forward-looking statements, or to
publish prospective financial information in the future, regardless
of whether new information, future events or any other factors
affect the information contained in this announcement, except where
required by applicable law and stock exchange listing
This information is provided by RNS
The company news service from the London Stock Exchange
END
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