Prosperity Minerals Holdings Ltd Possible Offer (2734J)
July 15 2013 - 2:33AM
UK Regulatory
TIDMPMHL
RNS Number : 2734J
Prosperity Minerals Holdings Ltd
15 July 2013
15 July 2013
Prosperity Minerals Holdings Limited
("Prosperity" or "the Company")
Possible Offer
Prosperity notes the announcement made by Prosperity
International Holdings (H.K.) Limited ("PIHL") this morning and
confirms that it has received an initial approach from PIHL with a
view to a possible offer being made at a price no higher than 130p
per ordinary Prosperity share.
In its letter to the Company's board, PIHL stated that it will,
by not later than 5.00pm on the 28(th) day following its
announcement today either announce a firm intention to make an
offer ("Offer") or announce that it does not intend to make an
Offer.
There can be no certainty that an Offer will be made nor on the
terms on which it might be made. The making of an Offer is subject
to, inter alia, PIHL securing funding from its bankers for the
Offer.
Prosperity shareholders should also note that the Company is not
subject to the City Code on Takeovers and Mergers (the "Code") as
its place of central management and control is not in the UK, the
Channel Islands or the Isle of Man and Prosperity shareholders will
not be afforded any protection under the Code.
The Company's shareholders can review PIHL's regulatory
announcement on the Hong Kong Stock Exchange. For further details
see: www.pihl-hk.com/html/ir_announce.php
As at the date of this announcement, the Company has 147,909,219
ordinary shares in issue of which 4,517,989 ordinary shares are
held in Treasury. The voting capital of the Company is 143,391,230.
PIHL holds approximately 64.07 per cent of the voting capital of
the Company. The Company also has outstanding options over a
further 5,590,000 ordinary shares.
Prosperity does not intend to comment further unless an Offer is
received or unless otherwise required by law or applicable
regulation.
Shareholders are advised to take no action at this time.
Further enquiries:
Prosperity Minerals Holdings Limited
Patrick Li +852 3187 2618
Daniel Stewart & Company plc
Corporate Finance: Paul Shackleton, +44 (0) 20 7776
Antony Legge, Ciaran Walsh 6550
Citigate Dewe Rogerson
Martin Jackson +44 (0) 20 7638
Priscilla Garcia 9571
This information is provided by RNS
The company news service from the London Stock Exchange
END
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