International Ferro Metals Approval of Amended BRP

 
TIDMIFL 
 
24 March 2016 
 
International Ferro Metals Limited 
 
                           ("IFL" or the "Company") 
 
                   Approval of Amended Business Rescue Plan 
 
Further to the announcement released by the Company on 18 March 2016, IFL 
announces that the Amended Business Rescue Plan ("Plan") in respect of its 
South African subsidiary, International Ferro Metals (SA) (Pty) Limited 
("IFMSA") proposed by the Business Rescue Practitioner ("BRP") and available on 
the Company's website, has been unanimously approved by creditors. The BRP will 
now seek to execute the relevant sale agreements with Samancor Chrome Limited 
("Samancor") as quickly as possible. 
 
The amended Plan provides an illustration and estimate of the potential 
distribution to creditors of IFMSA, and based on the Plan's distribution 
schedule, it is not likely that IFL shareholders would receive any distribution 
from the conclusion of the business rescue process. 
 
Further announcements in relation to the Business Rescue process will be 
released in due course. 
 
                                    - ENDS- 
 
For further information please visit www.ifml.com or contact: 
 
International Ferro Metals Limited             Tel: [phone] 
Chris Jordaan, Chief Executive Officer 
 
Numis Securities Limited                         Tel: [phone] 
James Black / John Prior / Paul Gillam 
 
About International Ferro Metals: 
 
International Ferro Metals produces ferrochrome, the essential ingredient in 
stainless steel, from its integrated chromite mine and ferrochrome processing 
operations in South Africa.  International Ferro Metals is listed on the London 
Stock Exchange under the symbol IFL. 
 
Forward Looking Statements 
 
This announcement contains certain forward looking statements which by nature, 
contain risk and uncertainty because they relate to future events and depend on 
circumstances that occur in the future.  There are a number of factors that 
could cause actual results or developments to differ materially from those 
expressed or implied by these forward looking statements. 
 
 
 
END 
 

(END) Dow Jones Newswires

March 24, 2016 10:04 ET (14:04 GMT)