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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Platinum Regs | LSE:PDM | London | Ordinary Share | KYG7144C1087 | ORD USD0.001 (REG S) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6504S Platinum Diversified Mining Inc. 09 March 2007 Platinum Diversified Mining Inc. Nord Resources Corporation ("Nord") Settlement Agreement LONDON- March 9 2007 - Platinum Diversified Mining, Inc. ("PDM" or "the Company") announced today that PDM and Nord Resources ("Nord") have entered into a settlement agreement (the "Settlement Agreement") in connection with the termination of the agreement and plan of merger dated October 23, 2006 (the "Merger Agreement"). The Merger Agreement contemplated the acquisition of Nord by PDM in an all-cash merger transaction (the "Merger"). The Settlement Agreement sets forth the terms and conditions of the settlement of the dispute and disagreements between PDM and Nord arising from the failure of the Merger to close. Although PDM maintains that it did not breach the Merger Agreement, the Directors concluded that it was in the Company's and its shareholders' best interests to achieve swift resolution of this matter and to avoid protracted and costly litigation, the outcome of which would inevitably be uncertain. Accordingly, pursuant to the terms of the Settlement Agreement, PDM has made an initial payment to Nord of $1,100,000 (the "Initial Payment"). PDM is required to make certain additional payments to Nord, up to a total aggregate amount of $3,600,000, only if PDM enters into negotiations for one or more acquisitions that meet certain criteria prescribed in the original admission document filed by PDM for its initial listing on AIM by March 14, 2007. The Initial Payment was made without disturbing the funds held in trust for contemplated acquisitions. Each of PDM and Nord released the other from any and all claims in relation to the Merger Agreement and the failure to complete the merger. Neither PDM nor Nord admitted any fault in the failure to complete the merger. Platinum continues to seek new acquisition opportunities in line with its original strategy and will make further announcements in due course. 9 March 2007 Enquiries: Bobby Cooper, Chief Executive Officer +001-520-544-2206 Tom Myatt, Chief Financial Officer +001-520-204-0159 This information is provided by RNS The company news service from the London Stock Exchange END AGRQKLBBDXBLBBQ
1 Year Platinum Diversified Mining Chart |
1 Month Platinum Diversified Mining Chart |
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