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Tuesday 01 June, 2010

Cluff Gold PLC

Termination of Offer Talks

RNS Number : 8980M
Cluff Gold PLC
01 June 2010
 



 

 

 

 

 

 

 

 

 

For immediate release                                                                                    AIM: CLF / TSX: CFG

           

Cluff Gold plc

 

("Cluff Gold" or the "Company")

 

Termination of Offer Talks

 

Cluff Gold confirms that, further to the announcement of 19 February 2010 and the subsequent announcement of 30 April 2010, it has received confirmation from all parties whom the Company was in discussions with that they no longer wish to proceed with an offer for the Company, and that all discussions have now concluded. Accordingly, and following consultation with the Takeover Panel, the Company confirms that it is no longer deemed to be in an 'Offer Period' for the purposes of the City Code on Takeovers and Mergers.

 

Algy Cluff, the Chairman and Chief Executive of Cluff Gold, commented:

 

"It is important to clarify that the Company did not solicit offers but was approached by certain third parties who asked our permission to carry out due diligence. This was allowed as we are responsible to our shareholders to review every opportunity and seek to maximise value. It is the view of the Board and senior management that this is not the appropriate moment for the Company to be sold, and we look forward to the future with growing optimism because both our gold production targets and the plans to develop our Baomahun project are progressing in line with our expectations."

 

Cluff Gold plc

J.G. Cluff - Chairman and Chief Executive

Catherine Apthorpe - Commercial Manager

Tel: +44 (0) 20 7340 9790

Evolution Securities Limited                                    

Rob Collins

Tim Redfern

Tel: +44 (0) 20 7071 4300

 

Pelham Bell Pottinger

 

Investor Relations (Global)

Charles Vivian

Klara Kaczmarek

Tel: +44 (0) 20 7861 3232

Farm Street  Communications Ltd 

 

Press Relations (U.K.)

Simon Robinson

+44 (0) 7593 340 107

simon.robinson@farmstreetmedia.com



NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.

This News Release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, the positioning of the Company for future success, statements regarding potential future production at Angovia and Kalsaka, exploration and drilling results at Baomahun, and future capital plans and objectives of Cluff Gold, are forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Cluff Gold's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined as well as future price of gold. Although Cluff Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cluff Gold does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.

 


This information is provided by RNS
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