PERTH, Australia, Nov. 12, 2013 /CNW/ - Elemental Minerals Ltd (ASX,
TSX: ELM) ("Elemental" or the "Company") would like to provide the following update on the off-market takeover
offer for all of the fully-paid ordinary shares of Elemental ("Dingyi Offer") by Dingyi Group Investment Limited ("Dingyi"), a company incorporated in Bermuda and listed on The Stock Exchange
of Hong Kong Limited ("SEHK").
Dingyi announced yesterday an extension to the closing date of the
Dingyi Offer to 7.00pm (Sydney time) on 31 January 2014 (unless further
extended). Shareholders can each expect to receive written notice of
this variation to the closing date of the Dingyi Offer together with
the process by which any Shareholder who has accepted the Dingyi Offer
may withdraw that acceptance.
As previously announced by Elemental, the Dingyi Offer remains
conditional upon, amongst other conditions, Dingyi obtaining the
approval of its shareholders.
The timing of that shareholder approval is subject to SEHK regulatory
approvals of the announcement and circular relating to the Dingyi
Offer. There have been delays in obtaining those regulatory approvals
the timing for which is not within the control of either Elemental or
Dingyi. Both parties remain committed to obtaining these approvals as
quickly as possible.
Given the delay in obtaining the SEHK regulatory approval, the parties
are currently discussing other extensions to the transaction timetable
and will announce any such agreement immediately upon it being reached.
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 Glenn Gatcliffe
Managing Director - BMO Capital Markets
Tel: +1 (416) 359 7048