MML
MML
MML - Metmar Limited - Metmar secures increased trade lines
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 SECURES INCREASED TRADE LINES
Metmar shareholders are advised that despite challenging markets and a
tight global credit environment, the Trading division of the Company has
increased its trade lines in line with anticipated volume growth.
Metmar Trading (Proprietary) Limited ("Metmar Trading") is the subsidiary
that houses the metals, minerals, polymer and rubber trading activities
upon which Metmar was originally founded in 1985. It has extended its
portfolio across the commodity trading spectrum and is today also involved
in off-take agreements as a result of the successful investments made by
Metmar Investments and Resources (Proprietary) Limited, which are gaining
considerable traction.
The Company met the stringent credit committee requirements of several
South African and international banks who showed their confidence in
Metmar`s prospects and risk averse model by extending its total trading
lines by almost $100 million.
The business has shown substantial growth in recent years, in relation to
both volumes and the range of commodities traded. The increased lines will
provide the capacity to meet the Company`s anticipated volume growth
resulting from several off-take agreements and increased flows in Metmar
Trading.
Johannesburg
28 February 2012
Sponsor
One Capital
Date: 28/02/2012 15:50:14 Produced by the JSE SENS Department.
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