Centamin Egypt Limited Notification of Court Approval
TORONTO, ONTARIO -- (Marketwire) -- 12/20/11 -- Centamin Egypt Limited ('Centamin' or the 'Company') (TSX: CEE)(LSE: CEY) is pleased to announce that the Supreme Court of Western Australia made orders earlier today, 20 December 2011, pursuant to section 411(4)(b) of the Corporations Act 2001 (Cth) to approve the scheme of arrangement, subject to certain existing conditions. The scheme of arrangement will effect the proposed change to the corporate structure of Centamin and its subsidiaries ('Centamin Group') by putting in place a new Jersey incorporated parent company for the Centamin Group, Centamin plc (the 'Scheme').
Centamin also advises that it has today lodged with the Australian Securities and Investments Commission a copy of the Court order approving the Scheme. A copy of the Court order is available here:
http://www.rns-pdf.londonstockexchange.com/rns/3031U_1-2011-12-20.pdf
Admission of Centamin plc's shares is expected to occur on or around 30 December 2011 at 8:00 a.m. Trading in Centamin's ordinary shares is expected to be cancelled simultaneously. The ticker symbol for Centamin plc's ordinary shares will remain as CEY on the London Stock Exchange and as CEE on the Toronto Stock Exchange.
Further details in relation to the Scheme and implementation are set out in a scheme booklet that is available on the Company's website, www.centamin.com.
About Centamin Egypt Limited
Centamin is a mineral exploration, development and mining company that has been actively exploring in Egypt since 1995. The principal asset of Centamin is its interest in the Sukari Gold Mine, located in the Eastern Desert of Egypt. Construction at the Sukari Gold Project commenced in March 2007 with first gold being produced in June 2009.
The Sukari Gold Mine is the first large-scale modern gold mine in Egypt. Centamin's operating experience in Egypt gives it a significant first-mover advantage in acquiring and developing other gold projects in the prospective Arabian-Nubian Shield.
In 2011 Centamin acquired Sheba Exploration (UK) PLC and now has interests in four mineral licences in Ethiopia where it is conducting further exploration activities.
This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities or any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, such securities by any person in any circumstances, and in any jurisdiction.
This announcement contains or may contain certain forward-looking statements with respect to certain plans of the Company and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. The Company cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. As a result, the Company's actual future results may differ materially from the plans, goals, and expectations set forth in the Company's forward-looking statements. Any forward-looking statements made herein by or on behalf of the Company speak only as of the date they are made. Except as required by applicable law or regulation, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.
This announcement is an advertisement and not a prospectus and investors should not subscribe for or purchase any securities referred to in this announcement except on the basis of information to be contained in the prospectus in connection with the admission of its ordinary shares to the premium segment of the Official List of the Financial Services Authority and to trading on the London Stock Exchange's main market for listed securities.
Contacts:
Centamin Egypt Limited
Chris Aujard
General Counsel & Company Secretary
+44 (0) 20 7569 1670
christopher.aujard@centamin.com
Centamin Egypt Limited
Katharine Sutton
Head of Investor Relations
+44 (0) 20 7569 1670
katharine.sutton@centamin.com
www.centamin.com
RBC Capital Markets (Sponsor)
Matthew Coakes
+44 (0) 20 7653 4000
RBC Capital Markets (Sponsor)
Daniel Conti
+44 (0) 20 7653 4000
Buchanan
Bobby Morse
+44 (0) 20 7466 5000
Buchanan
Gabriella Clinkard
+44 (0) 20 7466 5000