MML - Metmar Limited - Cautionary announcement relating to the proposed
MML
MML
MML - Metmar Limited - Cautionary announcement relating to the proposed
acquisition by Metmar of a 40% interest in a Newco to be registered in Zimbabwe
from Zimbabwe Alloys Limited
Metmar Limited
Incorporated in the Republic of South Africa
Registration number: 1998/007269/06
Share code: MML
ISIN code: ZAE000078747
("Metmar")
Cautionary announcement relating to the proposed acquisition
by Metmar of a 40% interest in a Newco to be registered in
Zimbabwe from Zimbabwe Alloys Limited
Shareholders are referred to the announcement dated 15 September 2009 regarding,
inter alia, the acquisition by Metmar of a 20% interest in Lightwave Trade and
Invest 11 (Proprietary) Limited ("the Metmar Consortium") ("the Transaction").
Shareholders are advised that the Metmar Consortium and Zimbabwe Alloys Limited
("Zim Alloys") have by mutual agreement decided to pursue the Transaction with a
different structure.
Shareholders are further advised that the Metmar Consortium has entered into an
agreement with Zim Alloys dated 5 February 2010, to acquire a 40% interest in a
Newco to be registered in Zimbabwe for a purchase consideration of USD 51.3
million ("the Acquisition").
A further announcement will be released once all the agreements relating to the
Acquisition have been signed. Accordingly, shareholders are advised to exercise
caution when dealing in their Metmar shares until a further announcement,
setting out the full details of the Acquisition, is made.
Bryanston
12 January 2010
Sponsor
BJM Corporate Finance (Pty)
Limited
Date: 12/02/2010 16:59:02 Produced by the JSE SENS Department.
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