Metminco Limited Metminco Completes Small Holdings Buyback (6272S)

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RNS Number : 6272S

Metminco Limited

04 October 2017

 
 AIM ANNOUNCEMENT   04 October 2017 
 

METMINCO COMPLETES SMALL HOLDINGS BUYBACK

Metminco Limited ("Metminco" or the "Company") (ASX: MNC; AIM: MNC) is pleased to announce that it has completed the buyback of small holdings as announced to the market on 14 July 2017.

All of the small holding shares purchased under the small holding sale facility (Sale Facility) have been placed to clients of Martin Place Securities.

The total number of shares purchased under the Sale Facility was 3,875,424 shares, representing approximately 3% of the issued capital in Metminco. With the purchase of the small holdings the number of Metminco shareholders has reduced by more than 6,900 to 1,294 shareholders.

This buyback has allowed Metminco to significantly reduce the costs associated with maintaining these smaller shareholders and in turn allow the Company to spend these resources on developing the Miraflores Gold Project in Colombia where the Company and its independent consulting engineers are currently finalising the feasibility study which is expected to be released to the market shortly.

This announcement contains inside information as stipulated under Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

William Howe

Managing Director

 
 For further information, 
  please contact: 
  METMINCO LIMITED 
 Brian Jones                      Office: +61 (0) 2 
                                   9460 1856 
 
 NOMINATED ADVISOR AND BROKER 
 RFC Ambrian 
 Australia 
 Will Souter / Nathan Forsyth     Office: +61 (0) 2 
                                   9250 0000 
 
 United Kingdom 
 Charlie Cryer                    Office: +44 (0) 20 
                                   3440 6800 
 
 JOINT BROKER 
 SP Angel Corporate Finance 
  LLP (UK) 
 Ewan Leggat                      Office: +44 (0) 20 
                                   3470 0470 
 
 PUBLIC RELATIONS 
 Camarco 
  United Kingdom 
 Gordon Poole / Nick Hennis       Office: + 44 (0) 20 
                                   3757 4997 
 
 Media + Capital Partners 
 Australia 
 Luke Forrestal                   Office: +61 (0) 411 
                                   479 144 
 

Forward Looking Statement

All statements other than statements of historical fact included in this announcement including, without limitation, statements regarding future plans and objectives of Metminco are forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as "anticipate", "believe", "could", "estimate", "expect", "future", "intend", "may", "opportunity", "plan", "potential", "project", "seek", "will" and other similar words that involve risks and uncertainties.

These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management of Metminco that could cause Metminco's actual results to differ materially from the results expressed or anticipated in these statements.

The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. Metminco does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and stock exchange listing

This information is provided by RNS

The company news service from the London Stock Exchange

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October 04, 2017 02:00 ET (06:00 GMT)