LONDON--(Marketwire - July 31, 2012) -
LUXEMBOURG, July 31, 2012 - Weather Investments II S.A.R.L. ("Weather
II" or the "Offeror") is pleased to announce that, pursuant to its
offer to acquire all of the outstanding common shares (the "Common
Shares") of La Mancha Resources Inc.(TSX: LMA)("La Mancha") for $3.50
per Common Share in cash (the "Offer"), a total of 90,000,000 Common
Shares have been deposited as of the close of trading on July 30th,
2012. These shares represent approximately 62.8% of the outstanding
Common Shares, on a fully diluted basis.
In accordance with the terms and conditions of the support agreement
entered into between Weather II and La Mancha on July 13, 2012, the
Offer is conditional upon, amongst other things, there having been
validly deposited in accordance with the Offer and not withdrawn at the
expiry time that number of Common Shares which, together with any
Common Shares directly or indirectly owned by the Offeror or its
affiliates, constitutes at least 62.8% of the outstanding Common
Shares, on a fully-diluted basis.
Weather II, through one of its wholly-owned indirect subsidiaries,
mailed its Offer and take-over bid circular to La Mancha shareholders
on July 20, 2012. The directors' circular of the board of directors of
La Mancha was concurrently mailed with the Offer and take-over bid
The Offer will remain open for acceptance until 5:00 p.m. (Montreal
time) on August 27, 2012, unless extended or withdrawn.
The board of directors of La Mancha, after receiving the unanimous
recommendation of the special committee of independent directors and a
fairness opinion from its financial advisor and after consultation with
its legal advisers unanimously determined that the Offer is fair to the
holders of Common Shares and recommended to La Mancha shareholders that
they accept the Offer.
Full details of the Offer are contained in the take-over bid circular
of the Offeror and the La Mancha directors' circular, copies of which
are available under La Mancha's profile at www.sedar.com.
Computershare Investor Services Inc. is the depositary for the Offer.
Shareholders can obtain copies of the take-over bid circular and
related materials at no charge from the depositary at 1-800-564-6253 or
by email at email@example.com. The information agent
for the Offer is Georgeson Shareholder Communications Canada Inc.
Inquires should be directed to the information agent tollfree at
1-866-676-2882 or firstname.lastname@example.org. Additional copies of these
documents may also be obtained on request from the information agent.
About Weather Investments II S.A.R.L.
Weather Investments II S.A.R.L. is one of the many successful
businesses managed by Mr.Naguib Sawiris. The wider Sawiris Family of
Egypt have substantial indirect interests in existing operations in the
telecoms, construction and fertilizers, cement, real estate and hotel
About La Mancha Resources Inc.
La Mancha Resources Inc. is an international gold producer based in
Canada with operations, development projects and exploration activities
in Africa, Australia and Argentina. La Mancha's shares trade on the
Toronto Stock Exchange (TSX) under the symbol "LMA". For more
information, visit the Company's website at www.lamancha.ca.
This information is provided by RNS
The company news service from the London Stock Exchange