Elemental Minerals provides update on the Dingyi Offer
PERTH, Australia, March 12, 2014 /CNW/ - Elemental Minerals Ltd (ASX, TSX: ELM) ("Elemental" or the "Company") refers to its announcement of 21 February 2014 regarding the review that has been requested by Dingyi Group Investment Limited ("Dingyi") of the decision by The Stock Exchange of Hong Kong Limited ("SEHK"). The SEHK decided to classify Dingyi's off-market takeover offer for all of the fully-paid ordinary shares of Elemental ("Dingyi Offer") as a "reverse takeover" under the SEHK Listing Rules ("SEHK Decision").
Dingyi has confirmed that the review hearing with the SEHK Listing Committee was yesterday held on a confidential basis. No decision was made by the SEHK Listing Committee at the hearing. Dingyi expects the SEHK Listing Committee to consider the submissions made over the coming days and issue a written decision in the short term at which time a further announcement will be made.
About Elemental Minerals
Elemental Minerals Limited is an advanced mining exploration and development company that aims to grow shareholder value through its 93%-owned Sintoukola Potash Project on the Republic of Congo coastline. Elemental Minerals is dual listed on the Australian Stock Exchange and the Toronto Stock Exchange under the symbol ELM. For more information, visit www.elementalminerals.com
About Dingyi Group Investment
Dingyi Group Investment Limited is a company incorporated in Bermuda and
listed on the Hong Kong Stock Exchange. Dingyi is an investment company
with interests based primarily in Hong Kong and Mainland China. Dingyi
is a company controlled by Mr. Li Kwong Yuk, a Chinese entrepreneur.
Mr. Li also controls a number of other substantial Mainland Chinese and
international business interests in sectors including infrastructure,
real estate, financial institutions and natural resource, among others.
SOURCE Elemental Minerals LimitedFor further information:
Mr Sam Middlemas
Tel: +61 (419) 936 040
Mr Glenn Gatcliffe
Managing Director - BMO Capital Markets
Tel: +1 (416) 359 7048