REG - Metminco Limited - Statement re Meeting 2 March 2018 <Origin Href="QuoteRef">MNC.AX</Origin>

Merino & CoAnnouncement

27/02/2018 10:45

RNS Number : 0822G
Metminco Limited
27 February 2018
AIM ANNOUNCEMENT
27 February 2018
METMINCO CANCELS MEETING TO BE HELD 2 MARCH 2018
Metminco Limited ("Metminco" or the "Company") (ASX: MNC; AIM: MNC) advises that today it received a request from Redfield Asset Management Pty Ltd ("Redfield") to cancel the Extraordinary General Meeting to be held on 2 March 2018.
Redfield wishes to redeem its notes under the Unsecured Convertible Note Deed dated on or about 17 May 2017 between Redfield and Metminco (Note Deed). Accordingly, the Company and Redfield have executed a Deed to Redeem which means Redfield no longer wish to convert the notes as per the Note Deed and therefore the Extraordinary General Meeting to be held on 2 March 2018 will not be required.
At that Extraordinary General Meeting, called at the request of Redfield, shareholders were to consider a resolution relating to item 7, section 611 of the Corporations Act 2001 (Cth) for the issue of shares to Redfield pursuant to the conversion of notes and exercise of options which would allow Redfield's shareholding to go above 20%.
Shareholders who have received the Notice of General Meeting can dispose of it without taking any further steps.
The Deed to Redeem states that Redfield will be paid (currently approximately A$830,000 being principal plus capitalised costs of finance). It is intended that the payment will be made from the proceeds of any future capital raising. The Company is also conducting what were confidential and incomplete discussions to raise capital to supplement its cash position at 31 December 2017 (approximately A$833,000). There can be no guarantee that securing these funds will be successful.
The Company also advises that further to the announcement of 8 February 2018 Lanstead Capital LP ("Lanstead") and Lanstead III LLC ("Lanstead III") (together "the Lanstead Parties") are not associates and consequently there is no change to the previously disclosed position that they are separate Significant Shareholders only.
William Howe
Managing Director
For further information, please contact:
METMINCO LIMITED
Graeme Hogan
Office: +61 (0) 2 9460 1856
NOMINATED ADVISOR AND BROKER
RFC Ambrian
Australia
Andrew Thomson / Alena Broesder
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 / Nick Hennis
Office: + 44 (0) 20 3757 4997
Media + Capital Partners
Australia
Luke Forrestal
Office: +61 (0) 411 479 144
Forward Looking Statement
All statements other than statements of historical fact included in this announcement including, without limitation, statements regarding future plans and objectives of Metminco are forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as ''anticipate", "believe", "could", "estimate", "expect", "future", "intend", "may", "opportunity", "plan", "potential", "project", "seek", "will" and other similar words that involve risks and uncertainties.
These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management of Metminco that could cause Metminco's actual results to differ materially from the results expressed or anticipated in these statements.
The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. Metminco does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and stock exchange listing

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