2nd Mar 2006 13:09
Frontier Mining Ltd02 March 2006 Frontier Mining Ltd. CREST Admission Frontier Mining Ltd ("Frontier" or the "Company") is pleased to announce thatFrontier shareholders will be able to hold and transfer interests in Frontier'sfully paid ordinary shares ("Shares") within the CREST system, provided certaincriteria are satisfied. The Company, through its registrar, Computershare Investor Services PLC (the "Registrar"), has established a depository arrangement whereby depositoryinterests ("DIs") representing Shares will be issued to investors who wish tohold their Shares in electronic form within the CREST system. The DIs areestablished pursuant to a deed of trust executed by the Registrar acting asdepositary. The DIs representing Shares were admitted to CREST with effect from1 March 2006. Accordingly, settlement of transactions in Shares represented byDIs may take place within the CREST system. CREST is a UK electronic paperlessshare transfer and settlement system which allows shares and other securities(including DIs) to be held in electronic rather than paper form. Both the Shares and the Depositary Interests will be represented by the sameISIN number, US U31444 1093. Admission to the CREST system Shares will be eligible for settlement through CREST only if they satisfystandards established by Frontier (as well as separate standards established byCREST). Among other things, Frontier shareholders must establish, to thesatisfaction of Frontier, that their Shares were issued at least twelve monthsago in an offering conducted outside the United States pursuant to United StatesSecurities and Exchange Commission Regulation S, that the shareholder is not anaffiliate of Frontier and that they are located outside the United States.Alternatively, Frontier shareholders may establish that their Shares wereacquired in a transaction under Rule 144 of the United States Securities Act of1933 ("Securities Act") or that the request for settlement through CREST is atthe time of and in connection with a sale under Rule 144, and that in eithercase the shareholder is not an affiliate of Frontier at such time. Shareholders should contact the Registrar on +44 (0)1534 825268 to establishwhether their Shares are CREST-eligible and to obtain a copy of the declarationform ("Declaration Form") that they must complete in order to deposit theirShares into CREST. The completed Declaration Form should then accompany a CRESTstock deposit form and the covering stock certificate when deposited with theCREST counter. Any Stock deposit form and stock certificate received by theRegistrar without a duly completed Declaration Form will be rejected andreturned to the submitting broker. United States Securities Law Restrictions Frontier is organized under the laws of the State of Delaware in the UnitedStates. The Shares have not been registered under the Securities Act and are "restricted securities" as defined in regulations of the United States Securitiesand Exchange Commission. The Shares are subject to the following provisions: The Shares have not been registered under the United States Securities Act of1933, as amended (the "Securities Act") and may not be offered, sold, pledged orotherwise transferred unless such transfer is effected (1) in a transactionmeeting the requirements of Regulation S under the Securities Act, (2) pursuantto an effective Registration Statement under the Securities Act, or (3) pursuantto an available exemption from the registration requirements of the SecuritiesAct, in each case in accordance with all applicable securities laws. Hedgingtransactions involving the shares of common stock of the company may not beconducted unless in compliance with the Securities Act. Shares issued in certificated form will continue to bear a legend reflecting theforegoing restrictions. Shareholders should contact their broker or theRegistrar if they have any questions regarding any applicable restrictions onthe transfer of their Shares. Certificated Shares Shareholders who do not wish to deposit their Shares into CREST may continue tohold them in certificated form. Further, if a shareholder subsequently desiresto remove his Shares from the CREST system, certificates representing the Shareswill be re-issued to the shareholder. Such certificates will bear a restrictivelegend substantially similar to the legend currently on the Shares. Notifiable Interests Shareholders who change through a single percentage (by way of increase ordecrease) their legal or beneficial interest, whether direct or indirect, in aholding of Shares where the resultant holding is greater than 3% of the issuedshare capital of Frontier (a "Notifiable Interest") are requested to forwarddetails of such Notifiable Interest to Frontier at its office at 4 Park Place,London SW1A 1LP, Fax: +44(0)20 7898 9101. Stamp Duty Reserve Tax The DIs will be subject to Stamp Duty Reserve Tax ("SDRT") because they do notmeet all the criteria set out for the SDRT exemption granted in The Stamp DutyReserve Tax (UK Depository Interests in Foreign Securities) Regulations 1999 (SI1999/2383 as amended by SI 2000/1871 and SI 2001/3779). Enquiries: Frontier Mining Ltd Brian Savage +44 (0)20 7898 9100Parkgreen Communications Cathy Malins / Annabel Leather +44 (0)20 7493 3713 About Frontier Frontier Mining Ltd. is a mineral exploration and development company that wasincorporated in the state of Delaware, USA, on August 5, 1998 for the purpose ofexploring and developing gold and copper deposits in the Republic of Kazakhstan. Through its subsidiaries and affiliates, Frontier locates, evaluates,acquires, explores and develops mineral properties. Frontier has two licenses owned by its wholly owned subsidiaries in Kazakhstan.They are the Naimanjal exploration and mining licence, held by FML Kazakhstan,and the Baltemir exploration licence, held by Baltemir LLP. Frontier has oneproducing gold mine, Naimanjal; one pre-feasibility stage gold project,Koskuduk; and one exploration stage gold prospect, Baltemir. Naimanjal isforecast by management to produce 25,000 ounces of gold in 2006 at a cash costof $250 per ounce. Frontier currently intends to double its gold production to50,000 ounces in 2007 and double it again to 100,000 ounces in 2008. Managementbelieves its gold projects contain more than two million ounces of oxide goldresource. Frontier also has one pre-feasibility stage copper porphyry deposit withassociated gold and molybdenum, Baitimir; and several copper/gold prospectsalong a 25-km trend including both VMS and porphyry types. Metallurgical testson its Beschoku and Yubileiny copper projects confirm the oxide copper ore isamenable to extraction using low cost SX-EW technology. Management believes thecopper projects contain more than 1,000,000 tonnes (2.2 billion pounds) ofcopper (P1) resource with significant potential for increase. Frontier iscurrently evaluating acquisition opportunities in uranium, gold, and copper inKazakhstan and the CIS countries. Frontier shares are traded on the AIM market of the London Stock Exchange.Frontier has 129,209,931 ordinary shares issued and 10,723,747 outstandingoptions and warrants, giving 139,933,678 fully diluted ordinary shares. Further company information may be accessed at the Frontier Mining Ltd. websiteat: www.frontiermining.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
FML.L