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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Fluormin | LSE:FLOR | London | Ordinary Share | GB00B5PC8898 | ORD 15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFLOR
RNS Number : 9929S
Fluormin PLC
29 November 2011
29 November 2011
Fluormin Plc
("Fluormin" and the "Company")
Approval by Sallies Shareholders of Bid Offer
Scheme Meeting Results
LONDON, UK - Fluormin Plc (AIM: FLOR) announces that, at a general meeting of Sallies Limited ("Sallies") held today at 11:30 am (Johannesburg time) to consider the offer by the Company to acquire those Sallies' ordinary shares not currently held by the Company, the requisite majority of shareholders approved the ordinary and special resolutions proposed at the meeting. Accordingly, Fluormin has succeeded in its bid to acquire 100 per cent of the ordinary share capital of Sallies with effect from the operative date of the scheme, which is expected to be 19 December 2011.
The Company also advises that, at a general meeting of Sallies' debenture holders held today, the debenture holders elected not to accept the Company's offer for the return of their capital. Pursuant to applicable regulatory rules, the Company is now obliged to make a mandatory bid for the debentures it does not currently hold, which will be open for acceptance from 30 November 2011 until 20 January 2012. The offer consideration will remain 0.0646 Fluormin ordinary shares for every one Sallies' debenture held or a cash consideration of 50 rand cents for every one Sallies' debenture held.Should any of the debenture holders not accept the offer for the return of their capital, their debentures will be retired in the ordinary course on 31 December 2012.
Al Gourley, Co-CEO of the Company, commented: "We are very pleased to have successfully completed the regulatory process in respect of our bid to acquire ownership of Sallies. This is one step forward in our goal of building a substantial fluorspar producer and consolidating our position within the industry."
Full details of the resolutions put to Sallies securityholders is available in the relevant Sallies circular posted on the Company's website - www.fluormin.com.
About Fluormin Plc
Fluormin is a producer of acid grade fluorspar, an industrial mineral widely used in the chemical and aluminium industries for the making of products such as HFCs (Hydrofluorocarbons used as refrigerant gases like Freon (TM)) and aluminium fluoride.
For further information please visit www.fluormin.com.
Contact Information
Fluormin plc Al Gourley, Joint CEO (44)020-7556-0940, agourley@fluormin.com Mark Bolton, Joint CEO (44)020-7556-0940, mbolton@fluormin.com Westhouse Securities Martin Davison (44)020 7601 6100 Tim Feather (44)020 7601 6100 Tavistock Communications Lydia Eades (44)020 7920 3150, leades@tavistock.co.uk Jos Simson (44)020 7920 3150, jsimson@tavistock.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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