MTX - Metorex Limited - Announcement regarding the disposal by Metorex of
MTX
MEMTX
MTX - Metorex Limited - Announcement regarding the disposal by Metorex of
its interest in Sable Zinc Kabwe Limited ("SABLE")
Metorex Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1934/005478/06)
Share code: MTX
ISIN code: ZAE000022745
Issuer code: MEMTX
("Metorex")
ANNOUNCEMENT REGARDING THE DISPOSAL BY METOREX OF ITS INTEREST IN SABLE
ZINC KABWE LIMITED ("SABLE")
Metorex is pleased to announce the completion of the disposal of its 100%
interest in Sable, with effect from 22 September 2011, to a subsidiary of
Glencore International plc for a cash consideration of R190 million ("the
Sable Disposal").
The Sable Disposal is in no way linked to the scheme of arrangement
proposed by the board of directors of Metorex in terms of section
114(1)(c) of the Companies Act No. 71 of 2008, as amended ("the Scheme")
and has no effect on the fulfilment of any of the related conditions
precedent to the Scheme, as set out in the circular to shareholders dated
2 August 2011 relating to the Scheme.
Johannesburg
22 September 2011
Lead financial adviser and investment bank to Metorex: Standard Bank
Joint financial adviser and transaction sponsor to Metorex: One Capital
Legal adviser to Metorex: Cliffe Dekker Hofmeyr
Date: 22/09/2011 15:12:01 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
