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6 August 2009

Caledon Resources plc (AIM: CDN, ASX: CCD)

('Caledon' or the 'Company')

Caledon Resources plc ('Caledon' or the 'Company'), the AIM and ASX listed Australian coking coal producer, notes the speculation originating in the Indian media regarding a potential bid for the Company by that country's Essar group. 

As recently advised in the June Quarterly Report, Caledon confirms it has been involved in discussions with a number of parties which may or may not lead to an Offer for the Company, however these discussions are incomplete and there has been no agreement reached with any party.

Any further announcement will be made as appropriate.

For further information about Caledon, please visit our website at www.caledon.com

or contact:

United Kingdom

Caledon Resources plc

David Weill                   +44 (0) 20 7881 0180

Jeremy Gorman             +44 (0) 20 7935 0027

RBC Capital Markets (NOMAD & Broker)    

Martin Eales                 +44 (0) 20 7029 7881

Conduit PR

Leesa Peters/ Jos Simson         +44 (0) 20 7429 6603
                                               +44 (0) 7899 879 450

Australia

Caledon Resources plc

Mark Trevan                           +61 7 33093103

 

Rowland (media enquiries)

Bruce Ruddy                 +61 7 3229 4499

About Caledon

Caledon are a coking coal producer and explorer in the Bowen Basin of Queensland,
Australia. It acquired the mothballed Cook Mine in late 2006 and has since
recommissioned the operation and introduced an innovative new underground
mining methodology. The Company also purchased the nearby Minyango exploration
concessions in 2006 and has conducted a number of drilling programs in
preparation for a feasibility study.

Royal Bank of Canada Europe Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting for Caledon Resources
plc and will not be responsible to anyone other than Caledon Resources plc for
providing the protections afforded to customers of Royal Bank of Canada Europe
Limited nor for providing advice in relation to the matters referred to above.

 

Dealing disclosure requirements

Under the provisions of Rule 8.3 of the Takeover Code, if any person is, or becomes,

'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of

Caledon, all 'dealings' in any 'relevant securities' of Caledon (including by means of

an option in respect of, or a derivative referenced to, any such 'relevant securities')

must be publicly disclosed by no later than 3.30 pm (London time) on the London

business day following the date of the relevant transaction. This requirement will

continue until the date on which any offer becomes, or is declared, unconditional as

to acceptances, lapses or is otherwise withdrawn or on which the 'offer period'

otherwise ends. If two or more persons act together pursuant to an agreement or

understanding, whether formal or informal, to acquire an 'interest' in 'relevant

securities' of Caledon, they will be deemed to be a single person for the purpose of

Rule 8.3. 

Under the provisions of Rule 8.1 of the Takeover Code, all 'dealings' in 'relevant

securities' of Caledon by any potential offeror or Caledon, or by any of their

respective 'associates', must be disclosed by no later than 12.00 noon (London time)

on the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose 'relevant securities'

'dealings' should be disclosed, and the number of such securities in issue, can be

found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.

'Interests in securities' arise, in summary, when a person has long economic

exposure, whether conditional or absolute, to changes in the price of securities. In

particular, a person will be treated as having an 'interest' by virtue of the ownership

or control of securities, or by virtue of any option in respect of, or derivative

referenced to, securities.

 

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