RNS Number : 2687A
  Cambrian Mining PLC
  30 July 2008
   

    CAMBRIAN MINING PLC
    ("Cambrian")

    COAL INTERNATIONAL PLC
    ("Coal International")

    Scheme of Arrangement Sanctioned
    31 July 2008

    On 14 July 2008 Coal International announced that its shareholders had approved the proposal for the acquisition by Cambrian Mining plc
("Cambrian") of the whole of the issued and to be issued ordinary share capital of Coal International (other than shares of Coal
International held by Cambrian or its wholly owned subsidiary, Cambrian Investment Holdings Ltd ("CIH")) to be implemented by way of scheme
of arrangement under section 899 of the Companies Act 2006 (the "Scheme"). 
    The Coal International Independent Director and the Cambrian Independent Directors are pleased to announce that today the High Court
sanctioned the Scheme without modification. 
    The Scheme is expected to become effective on 1 August 2008. Upon the Scheme becoming effective:
    * all Coal International Shares (other than those held by Cambrian and CIH) will be cancelled; and 
    *     1 New Cambrian Share will be issued to Coal International Shareholders (other than Cambrian and CIH) for every 3.25 Coal
International Shares held at the Scheme Record Time. 
    The Scheme Record Time was 6pm on 30 July 2008.
    Coal International has applied for the trading of its shares on AIM to be cancelled with effect from 7.30am on 4 August 2008.
    Application for the enlarged share capital of Cambrian to be admitted to trading on AIM has been made. Such shares are to commence
trading on 4 August 2008.

    Any term used but not defined in this announcement is as defined in the scheme document sent to shareholders of Coal International on 18
June 2008.


    For further information contact:

    Cambrian Mining Plc:

 Cambrian Mining Plc             Mark Burridge / Vivian Silverman         +44 20 7409 0890
 Landsbanki Securities (UK)      Jeff Keating / John Craven / Fred Walsh  +44 20 7426 9000
 Limited
 Scott Harris                    Stephen Scott / Ian Middleton            +44 20 7653 0030
 Bankside Consultants            Keith Irons / Simon Rothschild           +44 20 7367 8888

    Coal International Plc:

 Coal International Plc  W. Durand Eppler, CEO       +44 20 7409 0890
 Cenkos Securities plc   Ivonne Cantu / Max Hartley  +44 20 7397 8980
 Bankside Consultants    Oliver Winters              +44 20 7367 8874




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