Kenmare Resources Expiry Of Government Of Mozambique Participation Arrangement

 
TIDMKMR 
 
 
   Kenmare Resources plc ("Kenmare" or "the Company") 
 
   26 October 2016 
 
 
   Expiry of Government of Mozambique Participation Arrangement 
 
   Kenmare announces that the previously disclosed arrangements for the 
proposed issuance of warrants to the Government of Mozambique's 
investment vehicle, Empresa Mocambicana de Exploracao Mineira, SA 
("EMEM"), are due to expire today. 
 
   As agreed in the letter of agreement dated 30 May 2016 between the 
Company and as approved by the Company's shareholders at the 
Extraordinary General Meeting on 25 July 2016, EMEM was given the 
opportunity to acquire warrants for up to 5,466,110 Ordinary Shares at 
an exercise price of $3.84 per Ordinary Share. As set out in the 
Company's prospectus and circular of 1 July 2016, the arrangements were 
subject to the payment of US$1 million consideration on or before 26 
October 2016. Given present difficult macroeconomic circumstances in 
Mozambique, EMEM has decided not to provide the consideration to take up 
the warrants within the agreed timeframe and therefore no warrants will 
be issued to EMEM under the agreed arrangements. 
 
   This announcement contains inside information. 
 
   For further information, please contact: 
 
   Kenmare Resources plc 
 
   Michael Carvill, Managing Director 
 
   Tel: [phone] 
 
 
   Mob: + 353 87 674 0110 
 
 
   Tony McCluskey, Financial Director 
 
   Tel: [phone] 
 
 
   Mob: + 353 87 674 0346 
 
   Jeremy Dibb, Corporate Development and Investor Relations Manager 
 
   (the person responsible for arranging the release of this announcement) 
 
   Tel: [phone] 
 
   Mob: + 353 87 943 0367 
 
   Murray 
 
 
   Joe Heron / Aimee Beale 
 
 
   Tel: [phone] 
 
 
   Mob: [phone] 
 
 
   Buchanan 
 
   Bobby Morse / Chris Judd 
 
   Tel: [phone] 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Kenmare Resources via Globenewswire 
 
 
  http://www.kenmareresources.com/ 
 

(END) Dow Jones Newswires

October 26, 2016 03:40 ET (07:40 GMT)

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