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Friday 10 July, 2009

Cambrian Mining PLC

Scheme of Arrangement Sanctio

RNS Number : 4638V
Cambrian Mining PLC
10 July 2009
 



 WESTERN CANADIAN COAL CORP.

('Western')


CAMBRIAN MINING PLC

('Cambrian')


Scheme of Arrangement Sanctioned


London 10 July 2009: On 23 June 2009 Cambrian announced that its shareholders had approved the proposal for the acquisition by Western Canadian Coal Corp. ('Western') of the whole of the issued and to be issued ordinary share capital of Cambrian (other than the Cambrian Share held by Western and the Treasury Shares) to be implemented by way of scheme of arrangement under section 899 of the Companies Act 2006 (the 'Scheme'). 


The Cambrian Independent Directors and the Western Independent Directors are pleased to announce that today the Court sanctioned the Scheme without modification.


The Scheme is expected to become effective upon an office copy of the Court Order sanctioning the Scheme being registered by the Registrar of Companies in England and Wales which is expected to be  on 13 July 2009. Upon the Scheme becoming effective:


  • all Cambrian Shares (other than the Cambrian Share held by Western and the Treasury Shares) will be cancelled; and

  • 0.75 New Western Shares will be issued to Cambrian Shareholders for every 1 Scheme Share held at the Scheme Record Time. 

The Scheme Record Time was 6.00pm on 9 July 2009.


Cambrian has applied for the trading of its shares on AIM to be cancelled with effect from 7.00am on 14 July 2009.


Application for the New Western Shares to be admitted to trading on both the Toronto Stock Exchange (TSX) and AIM has been made and trading in these shares is expected to commence at the opening of the respective exchanges at market opening on 14 July 2009


Any term used but not defined in this announcement is as defined in the scheme document sent to shareholders of Cambrian on 26 May 2009.



For further information contact:


Western Canadian Coal Corp:


Western Canadian Coal Corp:

David Jan

+1 604 608 2692

Cenkos Securities plc

Ivonne Cantu / Adrian Hargrave

+44 20 7397 8900



Cambrian Mining Plc:

Cambrian Mining Plc

Mark Burridge / Braam Jonker

+44 (0)20 7409 0890

Singer Capital Markets

Jeff Keating 

+44 (0)20 3205 7500 

Seymour Pierce

Mark Percy

+44 (0)20 7107 8000

Scott Harris

Stephen Scott / Ian Middleton

+44 (0)20 7653 0030





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