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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mdm Engin. | LSE:MDM | London | Ordinary Share | VGG5941V1058 | COM SHS USD0.01 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 168.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMDM
RNS Number : 6611T
MDM Engineering Group Ltd
07 October 2014
7 October 2014
MDM ENGINEERING GROUP LIMITED
("MDM" or the "Company")
MDM and Foster Wheeler Merger Becomes Unconditional
MDM Engineering Group Limited (AIM: MDM), the minerals process and project management company focused on the mining industry in Africa, is pleased to provide the following update in relation to the proposed merger with Foster Wheeler M & M Limited ("Foster Wheeler"), an indirect subsidiary of Foster Wheeler AG (Nasdaq: FWLT) (the "Merger").
MDM is pleased to announce that all conditions precedent for the Merger have now been satisfied and that accordingly the Merger has become unconditional. The implementation date of the Merger (the "Implementation Date") is expected to be 23 October 2014.
MDM shareholders and Depository Interest holders who are the registered holders as at 5:00 pm in the British Virgin Islands on the business day prior to the Implementation Date, will be entitled to receive the merger consideration of GBP1.70 per MDM share.
Shareholders, whose shares are held in certificated form, will be sent a letter of transmittal on or before the Implementation Date. The letter of transmittal should be signed and returned, together with the share certificates representing that shareholder's MDM shares. The merger consideration will be paid as soon as reasonably practicable following the Implementation Date after receipt of the signed letter of transmittal and surrendered share certificates.
Depository Interest holders, whose shares are held in uncertificated form, will have their merger consideration paid through CREST as soon as reasonably practicable following the Implementation Date.
As announced on 25 September 2014 it is expected that trading in MDM's ordinary shares on AIM will cease at the close of business on 22 October 2014 with the cancellation of the Company's admission to trading on AIM being effective from 7:00 am on 23 October 2014.
Enquiries:
MDM Engineering Group Limited
Martin Smith (CEO)
George Bennett (Executive Director)
Tel: +27 (0) 11 993 4300
Canaccord Genuity Limited
NOMAD and Broker
Neil Elliot
Chris Fincken
Tel: +44 (0)20 7523 8000
Tavistock Communications
Financial Public Relations and Investor
Emily Fenton
Jos Simson
Tel: +44 (0)20 7920 3150
KEY INFORMATION:
MDM:
MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The Company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the Company's clients have largely been junior and mid-tier mining corporations with operations in Africa.
The MDM Engineering core technical team has a 25 year track record of completing a wide range of studies and execution projects across a variety of minerals, including precious metals, base metals, ferrous and non-ferrous metals, uranium and diamonds.
The Company has adopted an approach to project execution based on an open-book Engineering, Procurement, and Construction Management "EPCM" or "cost-plus" basis and on a Engineering, Procurement and Construct (EPC) basis. With a core focus on Africa, MDM Engineering is setting the benchmark standard for best practice in the mining services industry through its commitment to providing the highest quality services and actively engaging with clients to ensure maximum transparency.
www.mdm-engineering.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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