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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kimcor | LSE:KIM | London | Ordinary Share | GB00B0TNHV95 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.325 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 8920K KimCor Diamonds plc 30 December 2008 KimCor Diamonds plc ("KimCor" or the "Company") IRREVOCABLE UNDERTAKINGS OBTAINED IN CONNECTION WITH SALE OF DIAMOND AND INDUSTRIAL ASSETS Further to the announcement made by the Company on 3 December 2008, KimCor (AIM: KIM), the AIM-quoted diamond mining company, today announces that irrevocable undertakings ("Undertakings") to vote in favour of the indirect sale to Belmont Mining Limited ("Belmont") of the Company's diamond and industrial assets ("Proposed Sale") have been obtained from KimCor shareholders collectively holding 52% of the issued shares in the capital of the Company. Pursuant to the Undertakings, the signing shareholders (which include Dwyka Resources Limited, the holder of a 48.2% shareholding in the Company) have agreed to vote in favour of the Proposed Sale at the Extraordinary General Meeting of KimCor shareholders which will take place on Thursday, 8 January 2009 ("EGM"). The Undertakings are legally binding on the signing shareholders and only fail to apply in circumstances where a third party makes a general offer for all of the shares in the Company. The Sale of Shares Agreement signed between KimCor and Belmont on 3 December 2008, which sets out the terms and conditions of the Proposed Sale, is conditional only upon the approval of KimCor shareholders being obtained to the Proposed Sale. Accordingly, given that only a simple majority vote is required at the EGM for the Proposed Sale to proceed, the effect of Undertakings having been obtained from shareholders collectively holding in excess of 50% of the shares in the Company is that (subject to a takeover offer being made for all of the shares in KimCor in the interim) the Proposed Sale will be approved at the EGM. Enquiries: KimCor Diamonds plc Tel: 020 3178 6179 Martyn Churchouse Strand Partners Tel: 020 7409 3494 Simon Raggett Warren Pearce Victoria Milne-Taylor Bishopsgate Communications Ltd Tel: 020 7562 3350 Maxine Barnes Nick Rome This information is provided by RNS The company news service from the London Stock Exchange END MSCFBLFXVLBZFBV
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