2009-10-16 11:02:01 -
London, October , 16, 2009
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE REPUBLIC OF
IRELAND OR ANY OTHER RESTRICTED JURISDICTION.
* Admission to AIM expected in November 2009
* Placing ahead of admission of shares from existing
shareholders to assist liquidity
Further to the announcement made on 12 October 2009, London Mining
Plc is pleased to update shareholders that its proposed listing on
the AIM Market of the London Stock Exchange is expected to take place
in November 2009.
The Company will not be seeking to raise any new money upon
admission, but some existing shareholders have indicated that they
may be willing to place some shares with new investors in order to
increase the free float and facilitate an appropriate level of
liquidity in the London market. As such, management will be
undertaking a roadshow with potential investors ahead of admission.
The placing price is yet to be determined.
Liberum Capital Limited is acting as Nominated Advisor and Joint
Broker with GMP Securities Europe LLP acting as Joint Broker.
For more information, please contact:
London Mining Plc
Graeme Hossie, Managing Director +44 (0) 20 7201 5000
Rachel Rhodes, Finance Director
Thomas Credland, Head of Investor Relations
Crux Kommunikasjon AS
Charlotte Knudsen +47 97 56 19 59
Threadneedle Communication (UK)
Laurence Read/ Graham Herring +44 (0) 20 76539850
About London Mining
Founded in April 2005, London Mining is incorporated and registered
in the UK. In 2007, London Mining raised over USD 185 million to
advance iron ore production from its projects, and listed on the Oslo
Axess, a marketplace regulated by the Oslo Stock Exchange. In 2008,
it sold its Brazilian mine to Arcelor Mittal for USD 810m and
returned GBP220m to shareholders. The Company currently has iron ore
projects and mines in Sierra Leone, Saudi Arabia, Greenland and
China, and coal assets in South Africa and Colombia. London Mining
trades under the Reuters symbol LOND.OL and Bloomberg symbol LOND:NO.
Disclaimer
The Company is not offering any new Ordinary Shares or any other
securities in connection with Admission. The Ordinary Shares have not
been nor will they be, registered under the US Securities Act of
1933, as amended, or with any securities regulatory authority of any
state or other jurisdiction of the United States or under the
applicable securities laws of Australia, Canada, Japan, South Africa
or the Republic of Ireland. Subject to certain exceptions, the
Ordinary Shares may not be offered or sold in the United States,
Australia, Canada, Japan, South Africa or the Republic of Ireland or
to or for the account or benefit of any national, resident or citizen
of Australia, Canada, Japan, South Africa or the Republic of Ireland
or any person located in the United States.
This announcement does not constitute an offer of, or the
solicitation of an offer to subscribe for or buy, any Ordinary Shares
to any person in any jurisdiction to whom it is unlawful to make such
offer or solicitation in such jurisdiction and is not for
distribution in, or into, the United States, Australia, Canada,
Japan, South Africa or the Republic of Ireland. The distribution of
this announcement in other jurisdictions may be restricted by law and
therefore persons into whose possession this announcement comes
should inform themselves of and observe such restrictions.
Liberum Capital Limited ("Liberum") is regulated by the Financial
Services Authority and is acting exclusively for the Company and for
no one else in connection with the Placing and Admission. Liberum
will not be responsible to anyone other than the Company for
providing the protections afforded to customers of Liberum or for
advising any other person on the contents of this announcement or the
Placing and Admission. The responsibility of Liberum as nominated
adviser and joint broker to the Company is owed solely to the London
Stock Exchange and is not owed to the Company or the Directors or any
other person. No representation or warranty, express or implied, is
made by Liberum as to the contents of this announcement. No liability
whatsoever is accepted by Liberum for the accuracy of any information
or opinions contained in this announcement or for the omission of any
material information for which it is not responsible.
GMP Securities Europe LLP ("GMP") is regulated by the Financial
Services Authority and is acting exclusively for the Company (as
joint broker) and for no one else in connection with the Placing and
Admission. GMP will not be responsible to anyone other than the
Company for providing the protections afforded to customers of GMP or
for advising any other person on the contents of this announcement or
the Placing and Admission. The responsibility of GMP as joint broker
to the Company is owed solely to the London Stock Exchange and is not
owed to the Company or the Directors or any other person. No
representation or warranty, express or implied, is made by GMP as to
the contents of this announcement. No liability whatsoever is
accepted by GMP for the accuracy of any information or opinions
contained in this announcement or for the omission of any material
information for which it is not responsible.
This announcement, including information included or incorporated by
reference in this announcement, may contain 'forward-looking
statements'. Generally, the words 'will', 'may', 'should', 'could',
'would', 'can', 'continue', 'opportunity', 'believes', 'expects',
'intends', 'anticipates', 'estimates' or similar expressions identify
forward-looking statements. The forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements.
Many of these risks and uncertainties relate to factors that are
beyond the Company's ability to control or estimate precisely, such
as future market conditions and the behaviours of other market
participants, and therefore undue reliance should not be placed on
such statements. London Mining assumes no obligation and does not
intend to update these forward-looking statements, except as required
pursuant to applicable law or regulation.
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