| Fri 18 Jan 2008, 14:46 | | MTX - Metorex - Purchase Of Copper Resources Corporation ("CRC") Shares |
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MTX
MEMTX
MTX - Metorex - Purchase Of Copper Resources Corporation ("CRC") Shares
METOREX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
JSE code: MTX
ISIN: ZAE000022745
Issuer code: MEMTX
("Metorex" or "the company")
Purchase Of Copper Resources Corporation ("CRC") shares By Metorex
Limited("Metorex")
The Board of Metorex announces that it has unconditionally contracted to acquire
5,590,000 CRC shares, representing approximately 6.6 per cent of the current
issued share capital of CRC. These transactions were carried out off-market via
the execution of unconditional sale and purchase agreements at the same price as
the offer to the minority shareholders of CRC of which details were published on
6 December 2007 ("the Offer").
Previously it was announced that Metorex had acquired 39.1 per cent of the CRC
shares in issue when it purchased 33,293,392 CRC shares from the Forrest Group.
Metorex now holds a beneficial interest in 38,883,392 CRC shares, which
represents 45.6 per cent of the existing issued share capital of CRC.
Of the 5,590,000 CRC shares which Metorex has acquired, 2,965,000 shares were
purchased for a consideration in aggregate of 2,164,450 new Metorex shares
(being equivalent to 0.73 of a new Metorex share for each CRC Share) and
2,625,000 CRC shares were purchased for a cash consideration of GBP3,283,875
(being equivalent to 125.1p for each CRC share).
MANDATORY OFFER
The Offer, which is not related to the above share purchases, remains subject to
the terms and conditions set out in the Offer Document. The Offer closes on
Friday, 18 January, 2007 at 15:00pm UK time.
Johannesburg
18 January 2008
Enquiries:
Metorex
Charles Needham CEO - Tel: 011 880 3155
College Hill
Jacques de Bie - Tel: 011 447 3030
Corporate Advisor and Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
Date: 18/01/2008 14:46:32 Produced by the JSE SENS Department.
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