TORONTO, ONTARIO--(Marketwire - Dec. 30, 2011) - Centamin plc ("Centamin" or the "Company") (TSX:CEE)(News - Market indicators) is pleased to announce the implementation of the scheme of arrangement to effect the change to the corporate structure of Centamin Egypt Limited and its subsidiaries (the "Centamin Group") by putting in place Centamin, a company incorporated in Jersey, as the holding company of the Centamin Group.
Admission of Centamin's ordinary shares to the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's Main Market for listed securities became effective, and unconditional dealings commenced at 8:00 a.m. today. Trading in Centamin Egypt Limited's ordinary shares was cancelled simultaneously. Centamin's ordinary shares will also be listed on the Toronto Stock Exchange and be available for trading today. The ticker symbol for Centamin's ordinary shares is CEY on the London Stock Exchange and CEE on the Toronto Stock Exchange.
All of Centamin Egypt Limited's shares have been transferred to Centamin. Those eligible Centamin Egypt Limited shareholders on the register as at 11.00am (GMT) on 23 December 2011 will receive one Centamin share for each Centamin Egypt Limited share held.
At Admission, the Company had 1,096,297,381 ordinary shares of no par value each in issue and admitted to trading. Each ordinary share carries the right to one vote in relation to all circumstances at general meetings of the Company. The Company does not hold any ordinary shares in treasury. This figure may be used by shareholders and others with notification obligations as their denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Centamin under the FSA's Disclosure and Transparency Rules.
About the Company and the Centamin Group
The Company is the new parent company of the Centamin Group. Centamin Egypt Limited, a wholly owned subsidiary of the Company, is a mineral exploration, development and mining company that has been actively exploring in Egypt since 1995. The principal asset of the Centamin Group is its interest in the Sukari Gold Mine, located in the Eastern Desert of Egypt. Construction at the Sukari Gold Project commenced in March 2007 with first gold being produced in June 2009.
The Sukari Gold Mine is the first large-scale modern gold mine in Egypt. The Centamin Group's operating experience in Egypt gives it a significant first-mover advantage in acquiring and developing other gold projects in the prospective Arabian-Nubian Shield.
In 2011 Centamin Egypt Limited acquired Sheba Exploration (UK) PLC and now has interests in four mineral licences in Ethiopia where it is conducting further exploration activities.
This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities or any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, such securities by any person in any circumstances, and in any jurisdiction.
This announcement contains or may contain certain forward-looking statements with respect to certain plans of the Company and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. The Company cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. As a result, the Company's actual future results may differ materially from the plans, goals, and expectations set forth in the Company's forward-looking statements. Any forward-looking statements made herein by or on behalf of the Company speak only as of the date they are made. Except as required by applicable law or regulation, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.
