8th Jan 2008 09:02
Not for release, publication or distribution in or into the United States of America, Canada, Australia, Republic of South Africa or Japan
For immediate release 8 January 2008 Offer by Metorex Limited ("Metorex") for Copper Resources Corporation ("CRC") Offer Update and Offer extended
On 5 December 2007, Metorex announced the terms of an offer to acquire the entire issued and to be issued share capital of CRC (the "Offer"). The Offer Document setting out the full terms of the Offer was posted to CRC Shareholders on 5 December 2007. On 31 December 2007 Metorex announced that the Offer had been extended and would remain open for acceptance until 3.00 p.m. on the next closing date, being Monday 7 January 2008 (the "Second Closing Date").
Terms defined in the Offer Document have the same meaning in this announcement.
Level of acceptances and ownership
The Board of Metorex announces that by 3.00 p.m. on 7 January 2007, being the Second Closing Date of the Offer, Metorex had received valid acceptances of the Offer in respect of a total of 5,477,425 CRC Shares, representing approximately 6.42 per cent. of the issued share capital of CRC which together with 33,293,392 CRC Shares beneficially owned by Metorex, representing 39.06 per cent. of the issued share capital of CRC, total 38,770,817 CRC Shares representing 45.48 per cent. of the issued share capital of CRC.
Save as disclosed in this announcement, neither Metorex nor any of the Metorex Directors, nor any member of their immediate families, nor any person with whom Metorex has an arrangement, had an interest in or a right to subscribe for any relevant securities or had any short position in relation to relevant securities (whether conditional or absolute and whether in the money or otherwise), including any short position under a derivative, any agreement to sell or any delivery obligations or right to require another person to purchase or take delivery, nor had any of the foregoing dealt in any relevant securities during the Offer Period.
No CRC Shares have been borrowed or lent by Metorex or any person acting in concert with it.
Extension of the Offer
Metorex announces that the Offer, which remains subject to the terms and conditions set out in the Offer Document (including acceptances being received in respect of not less than 50 per cent. of the voting rights in CRC) has been extended and will remain open for acceptance until 3.00 p.m. on the next closing date, which will be on Friday 18 January 2008.
To accept the Offer
To accept the Offer in respect of CRC Shares held in certificated form, the Form of Acceptance should be completed, signed and returned in accordance with the instructions set out in the Offer Document and on the Form of Acceptance as soon as possible, and in any event so as to be received by Capita Registrars, Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU by no later than 3.00p.m. (London Time) on 18 January 2008. Additional Forms of Acceptance are available from Capita Registrars on 0870 162 3121 or, if calling from outside the United Kingdom, on +44 20 8639 3399.
To accept the Offer in respect of CRC Shares represented by depositary receipts in uncertificated form (that is, in CREST), CRC Shareholders should follow the procedure set out in paragraph 17.2 of Part I of the Offer Document.
Enquiries:Metorex Limited:Charles NeedhamTel: +27 (0)11 880 3155
South African corporate adviser and South African sponsor to Metorex Limited:
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
Cobus Human
Tel: +27 (0)11 283 0344
South African financial public relations adviser to Metorex Limited:
College HillNicholas WilliamsTel: +27 (0)11 447 3030
This Announcement is not intended to and does not constitute, or form part of, an offer or an invitation to purchase or subscribe for any securities. The Offer will be made solely by the Offer Document and the Form of Acceptance, which contain the full terms and conditions of the Offer, including details of how the Offer may be accepted. The availability of the Offer to persons not resident in the United Kingdom may be affected by the laws of the jurisdictions in which they are resident. Persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe any applicable legal and regulatory requirements.
The Offer referred to in this announcement is not being made, directly or indirectly, in or into, or by use of the postal services or by any means or instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or by any facilities of a national, state or other securities exchange of, the United States, Canada, Australia, Republic of South Africa or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction, and the Offer cannot be accepted by any such use, means or instrumentality or otherwise from or within the United States, Canada, Australia, Republic of South Africa or Japan or any other such jurisdiction and doing so may render invalid any proposed acceptance of the Offer.
If you are in any doubt about the Offer or the action you should take, you should consult an independent financial advisor authorised under the Financial Services and Market Act 2000 if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial advisor, who specialises in advising on the acquisition of shares and other securities.
Dealing Disclosure Requirements
ENDS
COPPER RESOURCES CORPORATIONRelated Shares:
CRC.L