Toledo Mining Corporation PLC Toledo Mining Corporation Plc : Proposed Cancellation Of Admission Of Trading Of Ordinary 5p Sh...

 
TIDMTMC 
 
 
 
 
 
   Toledo Mining Corporation plc 
 
   ("Toledo" or the "Company") (AIM:TMC) 
 
   Proposed cancellation of Admission of trading of Ordinary 5p Shares on 
AIM ("Delisting") 
 
   and 
 
   Notice of General Meeting 
 
   The Company has today posted out a letter to Shareholders from the 
Chairman (the "Circular") setting out the rationale for the proposed 
Delisting of the Company's Ordinary 5p Shares (the "Shares"), together 
with a Notice of General Meeting and an expected timetable of principal 
events. 
 
   Since 1 May 2013 DMCI Mining Corporation ("DMCI") has held a majority 
interest in the Company's Shares, which has increased in recent weeks to 
a holding exceeding 96% of the Shares in issue, and DMCI maintains a buy 
order with its brokers in respect of the remaining Shares. The Circular 
explains why the Directors believe that DMCI's level of ownership, its 
intention to consolidate the Philippine businesses into the DMCI group, 
and the severely limited liquidity in the Shares means Admission is no 
longer appropriate for the Company. 
 
   The Company is giving Notice of a General Meeting to be held on 12 
December 2013 for the purpose of passing a special Resolution, to cancel 
Admission, requiring not less than 75 per cent. of the votes cast. The 
Circular draws to Shareholders' attention that DMCI controls over 96% of 
the voting rights and has confirmed to the Directors it will vote in 
favour of the Resolution.  Subject to the Resolution being passed, it is 
anticipated that trading in the Shares will cease at close of business 
on 19 December 2013 and Delisting will be effective from 7:00am on 20 
December 2013. 
 
   For further information, please visit www.toledomining.com or contact: 
 
 
 
 
Adrian Harvey, Company Secretary 
Victor Kolesnikov, Chief Executive Officer     [phone] 
 
Jen Boorer/Sarah Wharry, RFC Ambrian Ltd       [phone] 
 
Katie Grinham, PR, Toledo Mining Corporation   [phone] 
 
 
 
   This announcement is distributed by Thomson Reuters on behalf of Thomson 
Reuters clients. 
 
   The owner of this announcement warrants that: 
 
   (i) the releases contained herein are protected by copyright and other 
applicable laws; and 
 
   (ii) they are solely responsible for the content, accuracy and 
originality of the 
 
   information contained therein. 
 
   Source: Toledo Mining Corporation PLC via Thomson Reuters ONE 
 
   HUG#1744028 
 
 
  http://www.toledomining.com/