MMH - Miranda Mineral Holdings Limited - Miranda Mineral Holdings to relaunch
MMH
MMH
MMH - Miranda Mineral Holdings Limited - Miranda Mineral Holdings to relaunch
Claw Back and Rights Offers
Miranda Mineral Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/001940/06)
Share code: MMH ISIN: ZAE000074019
("Miranda" or "the Company")
PRESS RELEASE: Miranda Mineral Holdings to Relaunch Claw Back and Rights Offers
The Miranda Claw Back and Rights Offers, intended to raise R83,6-million for the
company, is to be re-launched, the company announced today.
Miranda CEO, Glen Poff, said the cancellation and re-launching of the offers had
been caused by shareholders not passing a resolution at the Company`s AGM on 7
April, to place the authorised but unissued shares of the company under the
control of directors. As a consequence, the company had no legal alternative but
to cancel the offer in its present form and consult with the JSE to request that
trade in the Letters of Allocation that took place from 15 April be reversed.
Shareholders representing 58% of the company`s issued share capital have
reaffirmed their faith in Miranda by subsequently signing irrevocable
undertakings in support of a new resolution to place the unissued shares under
the control of directors. The new resolution will now be put to shareholders at
an extraordinary general meeting scheduled for 9 May. Passing the new resolution
requires a simple majority of votes at the meeting.
"We are pleased that the matter is being addressed and that the Claw Back and
Rights Offer process will be going ahead in due course."
Poff says that Global PS Mining Investments Company, Miranda`s international
shareholder, has indicated that it remains committed to the Claw Back and Rights
Offers.
Shareholders will be informed of the timing of the re-launch once the necessary
regulatory approvals had been obtained and a new timetable determined.
21 April 2011
ENDS
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 21/04/2011 17:04:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
