REG - Metminco Limited - In Specie Distribution Update <Origin Href="QuoteRef">MNC.AX</Origin>

Merino & CoAnnouncement

08/05/2017 07:00

RNS Number : 4024E
Metminco Limited
08 May 2017
ASX ANNOUNCEMENT
8 May 2017
IN SPECIE DISTRIBUTION 
UPDATE
Metminco Limited (Metminco or the Company) (ASX: MNC; AIM: MNC)announced on 24 October 2016 that the agreement whereby CD Capital Natural Resources Fund III LP (CD Capital) undertook to make an equity investment of up to US$45 million in Los Calatos Holdings Ltd (LCH) has been settled (Investment Agreement). As per the Investment Agreement with CD Capital, the Company is to use its "best endeavours" to distribute at least 90% of its holding in Hampton Mining Pty Ltd (Hampton) to its shareholders within six months (In Specie Distribution). Hampton is a wholly owned subsidiary of Metminco which is to hold 100% of the Company's interest in LCH (owner of the Los Calatos Project). 
Over the last 6 months the Company has been engaged in resolving complex funding, legal and tax arrangements relating to the distribution. Due to the complex nature of a number of factors influencing the distribution, the distribution has been delayed and CD Capital is fully apprised of the situation and is working with the Company. The Company will advise further details in due course.
William Howe
Managing Director
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").



Metminco Limited ABN 43 119 759 349
ASX Code: MNC.AX; AIM Code: MNC.L

Suite 401, 6 Help Street, Chatswood NSW, 2067
Tel: +61 (0) 2 9460 1856; Fax: +61 (0) 2 9460 1857
www.metminco.com.au
For further information, please contact:
METMINCO LIMITED


Phil Killen

Office: +61 (0) 2 9460 1856



NOMINATED ADVISOR AND BROKER


RFC Ambrian 


Australia


Will Souter / Nathan Forsyth

Office: +61 (0) 2 9250 0000



United Kingdom


Charlie Cryer

Office: +44 (0) 20 3440 6800



JOINT BROKER


SP Angel Corporate Finance LLP (UK)


Ewan Leggat

Office: +44 (0) 20 3470 0470



PUBLIC RELATIONS


Camarco
United Kingdom


Gordon Poole / Tom Huddart 

Office: + 44 (0) 20 3757 4997

This information is provided by RNS
The company news service from the London Stock Exchange
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