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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 : 4377S
MDM Engineering Group Ltd
24 September 2014
24 September 2014
MDM ENGINEERING GROUP LIMITED
("MDM" or the "Company")
MDM and Foster Wheeler receive merger approval from South African Competition Commission
MDM Engineering Group Limited (AIM: MDM), the minerals process and project management company focused on the mining industry in Africa, is pleased to announce that approval for the proposed merger with Foster Wheeler AG (Nasdaq: FWLT) ("Foster Wheeler") has been received from the South African Competition Commission.
The Merger remains subject to the satisfaction of a number of conditions precedent, as defined in the Merger Implementation Agreement. The outstanding conditions precedent are responsibilities of both MDM and Foster Wheeler and do not require third party approval or consent. The conditions precedent which MDM must satisfy are: (1) no prescribed event or material adverse change occuring (each as defined in the Merger Implementation Agreement), and (2) confirmation of the working capital position of the group, including its cash position, being above certain minimum agreed levels.
As outlined in the announcement on 13 March 2014, immediately following the implementation of the Merger, the admission to trading on the AIM Market of the London Stock Exchange of MDM's ordinary shares will be cancelled. A further announcement will be made in due course which shall include the intended date of the cancellation.
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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