DMCI Holdings Inc. Letter of Intent Signed (0081Z)

TIDMTMC

RNS Number : 0081Z

DMCI Holdings Inc.

01 March 2013

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO

OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

1 March 2013

DMCI Mining Corporation

Cash Offer for Toledo Mining Corporation PLC

Receipt of Letter of Intent to Accept the Offer

DMCI Mining today confirms it has received a letter of intent to accept the Offer from Mr Alfredo C. Ramos in relation to his entire holding amounting to 1,300,000 Toledo Shares, representing approximately 2.6 per cent. of Toledo's existing issued share capital.

In aggregate, therefore, DMCI Mining owns or has received letters of intent to accept the Offer in respect of 22,619,363 Toledo Shares, representing approximately 45.4 per cent. of Toledo's existing issued share capital.

Defined terms used in this announcement have the same meaning as set out in the announcement made on 15 February 2013.

Enquiries:

Evercore Partners (financial advisor to the DMCI Group)

Stephen CuUnjieng [phone]

Edward Banks [phone]

Andrew Price

Disclosure requirements under the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or more of any class of relevant securities of Toledo or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the Offer Period and, if later, following the announcement in which any paper offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) Toledo and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th business day following the commencement of the Offer Period and, if appropriate, by no later than 3.30 p.m. (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of Toledo or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of Toledo or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of Toledo or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) Toledo and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of Toledo or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by Toledo and by any offeror and Dealing Disclosures must also be made by Toledo, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of Toledo and any offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on [phone].

Evercore Partners, through Evercore Asia and Evercore International, is acting exclusively for the DMCI Group and no one else in connection with the Offer and will not be responsible to anyone other than the DMCI Group for providing the protections afforded to the customers of Evercore Partners or for providing advice in relation to the Offer or in relation to the contents of this document or any transaction or arrangement referred to herein. Evercore Asia is licensed in Hong Kong by the Hong Kong Securities and Futures Commission. Evercore International is authorised and regulated in the United Kingdom by the Financial Services Authority.

Publication on DMCI website

A copy of this announcement and the letter of intent will be available, free of charge, at www.dmciholdings.com by no later than 12 noon on 1 March 2013.

This information is provided by RNS

The company news service from the London Stock Exchange

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