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London Mining Plc (OSL:LOND) On 17 October 2008, London Mining plc ("London Mining") announced that it had posted a circular to Shareholders setting out the details of its proposed Return of Cash to Shareholders of 200 pence per Ordinary Share (the "Circular").
In response to questions raised relating to the timetable of the Return of Cash, London Mining would like to make the following clarifications.
The Circular provides that Shareholders who have sold or transferred, or sell or transfer their entire holding of Ordinary Shares prior to 5.00 pm on 14 November 2008 are required to send the Circular and any accompanying documents as soon as possible to the purchaser or transferee of those Ordinary Shares to the stockbroker, bank or other agent through whom the sale or transfer was effected for onward transmission to the purchaser or transferee.
Notwithstanding the requirement for Shareholders to forward documents referred to in the paragraph above, Shareholders and potential purchasers of Ordinary Shares are reminded that the ex-entitlement date for the Return of Cash is 11 November 2008.
Only Shareholders on the register at 5.00 pm on 14 November 2008 will be entitled to receive B Shares and/or C Shares with the right to the B Share Dividend or C Share Redemption (as applicable). If VPS Shares are purchased on or after the ex-entitlement date for the Return of Cash the purchaser will not be on the VPS Register at 5.00 pm on 14 November 2008 and will not be entitled to receive B Shares and/or C Shares with the right to the B Share Dividend or C Share Redemption (as applicable) and an Election Form submitted by a purchaser in respect of such VPS Shares will not be valid.
Shareholders should note that whilst a purchase of VPS Shares on the ex-entitlement date will settle on 14 November 2008, the purchaser will not appear on the VPS Register by 5.00 pm on that date.
VPS Shareholders and purchasers of VPS Shares before 11 November 2008 are reminded that the latest time for receipt of VPS Election Forms by DnB NOR is 5.00 pm on 13 November 2008. Registered Shareholders are reminded that the latest time for receipt of Registered Shareholder Election Forms by the Company is 5.00 pm on 14 November 2008. Details of how to complete and return the Election Forms are set out in the Circular.
In this announcement, unless the context otherwise requires, all capitalised terms shall have the meaning given to them in the Circular and references to time in this announcement are references to London time.
A copy of the VPS Election Form and Registered Shareholder Election Form is enclosed.
For further information, please contact: London Mining Plc Christopher Brown, Managing Director +44 (0)20 7201 5000 Graeme Hossie, Corporate Development & Deputy +44 (0)20 7201 5000 Managing Director Rachel Rhodes, Finance Director +44 (0)20 7201 5000
Crux Kommunikasjon Charlotte Knudsen +47 97561959
Notes to the Editors:
London Mining London Mining is incorporated and registered in the UK, and is developing mines to supply the global steel industry. In 2007, London Mining raised over US$185m to advance iron ore production from its projects, and listed on the Oslo Axess, a marketplace regulated by the Oslo Stock Exchange on 9 October 2007. Following the sale of its Brazilian operations in August 2008 for over US$800m, the Company has mining, exploration and development projects located in Sierra Leone, Saudi Arabia, Greenland, Mexico and South Africa, and total iron ore resources of 1.3 billion tonnes containing an estimated 459Mt of iron. London Mining is trading under the Reuters symbol LOND.OL and Bloomberg symbol LOND:NO.
Please also visit our website www.londonmining.co.uk for more information about London Mining and its operations.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
