MDM Engineering Group Ltd Merger Update (6611T)
October 07 2014 - 8:31AM
UK Regulatory
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
MERUBUURSBARRAA
Mdm Engin. (LSE:MDM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mdm Engin. (LSE:MDM)
Historical Stock Chart
From Jul 2023 to Jul 2024