MML
MML
MML - Metmar Limited - Metmar receives Ruukki payment amounting to ZAR153.427
million and further cautionary announcement
Metmar Limited
Incorporated in the Republic of South Africa
Registration Number 1998/007269/06
Share Code: MML & ISIN Code: ZAE000078747
("Metmar" or "the Company")
METMAR RECEIVES RUUKKI PAYMENT AMOUNTING TO ZAR153.427 MILLION AND FURTHER
CAUTIONARY ANNOUNCEMENT
Ruukki payment
Shareholders are referred to the Metmar further cautionary announcement dated 25
May 2009 which set out, inter alia, information relating to the disposal of
Metmar`s interests in PGR 17 Investments (Pty) Limited ("PGR")and Mogale Alloys
(Pty) Ltd ("Mogale").
Ruukki South Africa (Proprietary) Limited paid the first payment of ZAR 1.2
billion in cash on 28 May 2009 as stipulated in the PGR and Mogale disposal
agreements ("First Payment"). Metmar`s share of the first payment is ZAR 150.941
million plus interest amounting to ZAR 2.486 million. Metmar received payment of
its share in cash on 28 May 2009. Metmar`s share of the total disposal
consideration of ZAR 2 billion amounts to ZAR 248.215 million (ex interest).
Further cautionary and detailed terms announcement
A detailed announcement will be made in due course detailing the revised terms
of the agreement. Accordingly, shareholders are advised to exercise caution when
dealing in the Company`s shares until the detailed announcement is made.
Registered office:
24 Sloane Street, Bryanston, 2191
(PO Box 98549, Sloane Park, 2152)
Sponsor: QuestCo Sponsor (Proprietary) Limited
29 May 2009
Date: 29/05/2009 07:58:08 Produced by the JSE SENS Department.
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