Sierra Rutile Limited Announcement re Iluka Resources Limited (6280F)
July 29 2016 - 2:18AM
UK Regulatory
TIDMSRX
RNS Number : 6280F
Sierra Rutile Limited
29 July 2016
Sierra Rutile Limited
FOR IMMEDIATE RELEASE
London, UK, 29 July 2016: The Board of Sierra Rutile Limited
(AIM:SRX) ("Sierra Rutile" or the "Company") notes the announcement
made today by Iluka Resources Limited ("Iluka") and confirms that
it has received an approach for the issued and to be issued share
capital of the Company at a price of 36 pence per ordinary share in
cash. Discussions are at an advanced stage, however, there can be
no certainty that an offer will be made or as to the terms of any
such offer. As a result, shareholders are urged to take no action
at this time. A further announcement will be made in due course as
appropriate.
The Company is not subject to the UK Code on Takeovers and
Mergers ("Code") and, therefore, the Code will not apply to any
transaction involving the Company.
This announcement contains inside information in relation to
Sierra Rutile.
ENDS
For further information
Sierra Rutile Limited
John Sisay, Chief Executive +44 (0)20
Officer 7074 1800
Investec Bank
Nominated Adviser and
Joint Corporate Broker
Chris Sim / George Price +44 (0)20
/ Jeremy Ellis 7597 4000
Numis Securities Limited
Joint Corporate Broker
John Prior / James Black +44 (0)20
/ Paul Gillam 7260 1000
RBC Capital Markets
Joint Corporate Broker +44 (0)20
Jonny Hardy / Elliot Thomas 7653 4000
Kreab
Christina Clark / Fiona +44 (0)20
Cumberland 7074 1800
About Sierra Rutile Limited
Sierra Rutile is a leading, multi-mine mineral sands company,
operating world-class assets and developing a portfolio of growth
projects in the south west of Sierra Leone, with its primary
commodity mined being natural rutile, a titanium feedstock. The
Company has an established operating history spanning approximately
50 years and a resource mine life of another 50 years with one of
largest natural rutile deposits in the world and a JORC-Compliant
Mineral Resource for measured, indicated and inferred resources for
the Sierra Rutile mine of over 866 million tonnes (as at 30
September 2015). Sierra Rutile expects to be the world's largest
primary producer of natural rutile in 2016.
www.sierra-rutile.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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