Merger Update
04 September 2003 - 9:01AM
UK Regulatory
RNS Number:3691P
Exploration Co PLC
04 September 2003
RECOMMENDED MERGER OF EL ORO MINING AND EXPLORATION COMPANY P.L.C. ("EL ORO")
WITH THE EXPLORATION COMPANY P.L.C. ("EXPLORATION") BY MEANS OF A SCHEME
OF ARRANGEMENT (THE "SCHEME")
OUTCOME OF COURT HEARINGS
The petition by El Oro to sanction the Scheme and confirm the associated capital
reduction and the petition by Exploration to confirm the Exploration Capital
Reduction were heard by the Court on 3rd September, 2003. The Scheme was
sanctioned and both reductions of capital were confirmed by the Court at that
time and the effective date of the Scheme and both reductions of capital is
expected to be 5th September, 2003. Dealings in the New Exploration Stock Units
are expected to commence on 5th September, 2003.
The terms New Exploration Stock Unit and Exploration Capital Reduction have the
meanings given to them in El Oro's circular to shareholders dated 4th July,
2003.
Enquiries
Exploration 0207 581 2782
Robin Parish
El Oro 0207 581 2782
David Hunting
This information is provided by RNS
The company news service from the London Stock Exchange
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