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MTX
MEMTX
MTX - Metorex Limited - Clarification in respect of the directors` dealings in
securities announcement
Metorex Limited
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
Share code: MTX
ISIN: ZAE000022745
Issuer code: MEMTX
("Metorex")
_____________________________________________________________________________
CLARIFICATION IN RESPECT OF THE DIRECTORS` DEALINGS IN SECURITIES ANNOUNCEMENT
_____________________________________________________________________________
Shareholders are referred to the directors` dealing announcement published on
SENS on 8 April 2011 ("Directors` Dealing Announcement") which followed the
joint firm intention announcement published on SENS ("Firm Intention
Announcement") earlier that day. The Firm Intention Announcement set out the
terms on which Vale S.A., through a wholly-owned subsidiary ("Vale") will make a
cash offer (the "Offer") to acquire the entire issued and to be issued ordinary
share capital of Metorex ("Shares") which, if implemented, will result in Vale
becoming the registered and beneficial owner of the Shares.
The Directors` Dealing Announcement was published in compliance with paragraph
3.64(b) of the JSE Limited Listings Requirements which requires that any
agreement entered into by an associate of a director of Metorex to sell Metorex
shares be announced as a director`s dealing. In the context of the Firm
Intention Announcement, the irrevocable undertakings in respect of a potential
disposal to Vale provided by the associates stated in the Directors` Dealing
Announcement are deemed to be an agreement to sell Metorex shares, although the
Metorex shares will only be sold if and when the Offer becomes unconditional in
accordance with its terms.
It should therefore be noted that the Metorex shares referred to in the
Directors` Dealing Announcement have not yet been sold and will only be sold
should the Offer become operative.
Johannesburg
11 April 2011
For further enquiries please contact:
Metorex CEO, Terence Goodlace Tel: 011 215 4000
CFO, Maritz Smith
College Hill Jacques de Bie Tel: 011 447 3030
Sponsor: One Capital
Date: 11/04/2011 08:35:01 Produced by the JSE SENS Department.
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