1st Aug 2011 08:00
Weatherly International Plc
Admission to trading on AIM of China Africa Resources plc
and
Confirmation of Dividend Payment
Weatherly International plc ('Weatherly' or 'the Company') is pleased to announce that China Africa Resources Plc ('CAR') was today admitted to trading on AIM and dealings in CAR's ordinary shares have commenced.
On 18 July 2011, the Company announced that it has undertaken a distribution to shareholders on the register as at 25 July 2011 (the "Record Date") of CAR ordinary shares, on the basis 0.0043 CAR ordinary shares for each Weatherly ordinary share (the "Dividend in Specie").
As previously announced, instead of the Dividend in Specie, a cash dividend of £0.001 per Weatherly ordinary share is being paid to shareholders on the Weatherly share register at the Record Date who held less than 300,000 Weatherly ordinary shares, and any Weatherly shareholders who have registered addresses in the United States of America or Canada .
For further information, please contact:
Rod Webster, Chief Executive Officer, Weatherly International Plc
+44 (0) 20 7917 2989
Samantha Harrison / Jen Boorer, Ambrian Partners Limited
+44 (0) 20 7634 4700
Carina Corbett, 4C Communications (Investor Relations)
+44 (0) 20 3170 7973
Notes to Editors
CAR was incorporated on 20 August 2010 for the purposes of the transaction. Pursuant to the Implementation Agreement, as entered into and announced on 12 January 2011, HK ECE Weatherly Investment Co. Ltd ("HK ECE"), a wholly owned subsidiary of Jiangsu Eastern China Non Ferrous Metals Investment Holding Company Ltd. ('ECE'), owns 65% of the issued share capital of CAR and Weatherly owns the remaining 35%.
CAR, ECE and Weatherly will work together to develop Berg Aukas in Northern Namibia. Hence, the immediate objective of CAR will be to carry out a full feasibility study on Berg Aukas (the "Study") with a view to its completion by the end of 2012. Once completed, the Board of CAR will consider the Study and if further development is approved, consider how best to raise the capital to develop the project. Whilst the immediate focus of CAR will be the development of Berg Aukas, the strategy for CAR is to build a profitable and widely based resource business and may include the acquisition of additional assets from Weatherly, ECE or third parties.
Related Shares:
Weatherly International Plc