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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Oriel Res. | LSE:ORI | London | Ordinary Share | GB0034246743 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 121.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 8139V Oriel Resources PLC 03 June 2008 AIM: ORI TSX: ORL PRESS RELEASE 3 June, 2008 Oriel Resources Plc ("Oriel" or the "Company") Cancellation of Certain Warrants _________________________________________________________________________ _____________ Further to the announcement by Mechel OAO ("Mechel") on 17 April 2008, that all conditions of its recommended cash offer for the entire issued and to be issued ordinary share capital of Oriel Resources plc (AIM:ORI, TSX:ORL) had been satisfied, the Company announces that on 2 May 2008 Mechel and Oriel distributed a letter to the registered holders of warrants over ordinary shares of 1p each in the share capital of the Company (AIM:ORIW) ("the Warrants") offering the Warrant holders the alternative of a cash payment in consideration of the cancellation of the Warrants ("the Cash Cancellation Proposal"). The Cash Cancellation Proposal was open for acceptance until 21 May 2008. The Company further announces that Warrant holders holding a total of 8,239,144 Warrants validly accepted the Cash Cancellation Proposal. Following the cancellation of these Warrants, 1,144,797 Warrants remain in issue and listed on the AIM market of the London Stock Exchange and can be exercised in accordance with the standard procedure. The Company intends to exercise its right under the deed poll dated 7 February 2005, pursuant to which the Warrants were issued, to appoint a trustee who shall have the power to sell the remaining Warrants or exercise the remaining Warrants and sell the resulting shares. ENDS ------------------------------------------------------------------------- ----------------------------------------------------------------------- For further information please contact: Tania Tchedaeva, Assistant Company Secretary, Oriel Resources Plc Tel: +44 (0) 20 7514 0590 Gavin Dallas, Marketing and PR, Oriel Resources Plc Tel: +44 (0) 20 7514 0590 Michael Padley / Michael Spriggs, Bankside Consultants Tel: +44 (0) 20 7367 8888 Ryan Gaffney, Canaccord Adams Limited Tel: +44 (0) 20 7050 6500 Keith Schaefer, Vanguard Shareholder Solutions Tel: + 1 604 608 0824 www.orielresources.com This information is provided by RNS The company news service from the London Stock Exchange END MSCUOOBRWVRNRRR
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