PERTH, Australia, Aug. 1, 2013 /CNW/ - Elemental Minerals Ltd (ASX, TSX:
ELM) ("Elemental" or the "Company") refers to its announcement dated 1 July 2013 ("Takeover Announcement") detailing the execution of a bid implementation agreement with Dingyi
Group Investment Limited ("Dingyi"), a company incorporated in Bermuda and listed on The Stock Exchange
of Hong Kong Limited ("SEHK"), pursuant to which Dingyi will make an off-market takeover offer for
all the fully-paid ordinary shares of Elemental ("Dingyi Offer").
Elemental is pleased to report that Dingyi has made progress in its
discussions with the SEHK regarding the required regulatory
confirmations referred to in the Takeover Announcement. These
regulatory confirmations are required for Dingyi to be able to convene
and hold the shareholders' meeting necessary to satisfy the Dingyi
shareholder approval condition by the shareholder approval long stop
date specified in the bid implementation agreement.
While these final regulatory confirmations have not yet been obtained by
Dingyi, the parties are hopeful a final decision will be made by the
SEHK in the coming weeks. There can be no guarantee that the regulatory
confirmations will be obtained.
Both parties remain committed to resolving these matters as quickly and
efficiently as possible.
The Company will keep the market informed as to any material
developments in respect of the Dingyi Offer.
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,
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 Limited
For further information:
Mr Sam Middlemas
Tel: +61 (419) 936 040
Mr Glen Gatcliffe
Managing Director - BMO Capital Markets
Tel: +1 (416) 359 7048