GENEVA, SWITZERLAND, Feb. 29, 2012 /CNW/ - Reference is made to the
offer dated December 15, 2011 (the "Offer"), as amended and supplemented, by Urion Mining International B.V. (the
"Offeror"), an indirect, wholly-owned subsidiary of Trafigura Beheer B.V. ("Trafigura"), to purchase all of the issued and outstanding registered shares ("Registered Shares") in the capital of Iberian Minerals Corp. ("Iberian") which are not already held by Trafigura or its affiliates at a price
of C$1.10 per Registered Share, in cash. As previously announced, the
expiry time for the Offer was 8:00 p.m. (Toronto time) on February 23,
Trafigura announced today that all terms and conditions of the Offer
have been complied with or waived, and that the Offeror took up and
accepted for payment 271,569,702 Registered Shares validly deposited
under the Offer, representing approximately 53.5% of the issued and
outstanding Registered Shares.
After taking up and accepting for payment 271,569,702 Registered Shares
validly deposited under the Offer, Trafigura and its affiliates now own
and control 490,850,221 Registered Shares or approximately 96.7% of the
issued and outstanding Registered Shares.
Trafigura currently intends to exercise its rights under the merger
provisions of the Merger Act (Switzerland) to acquire the Registered Shares not tendered to the
Offer. Upon completion of a merger thereunder, Trafigura intends to
cause Iberian to apply to delist the Registered Shares from the TSX
Venture Exchange and to cease being a reporting issuer under Canadian
SOURCE Trafigura Beheer B.V.
For further information:
Georgeson Shareholder Communications Canada Inc.:
North American Toll Free Number: 1- 866-374-0472
Outside North America: +1-781-575-2168