TIDMPMHL

RNS Number : 2734J

Prosperity Minerals Holdings Ltd

15 July 2013

15 July 2013

Prosperity Minerals Holdings Limited

("Prosperity" or "the Company")

Possible Offer

Prosperity notes the announcement made by Prosperity International Holdings (H.K.) Limited ("PIHL") this morning and confirms that it has received an initial approach from PIHL with a view to a possible offer being made at a price no higher than 130p per ordinary Prosperity share.

In its letter to the Company's board, PIHL stated that it will, by not later than 5.00pm on the 28(th) day following its announcement today either announce a firm intention to make an offer ("Offer") or announce that it does not intend to make an Offer.

There can be no certainty that an Offer will be made nor on the terms on which it might be made. The making of an Offer is subject to, inter alia, PIHL securing funding from its bankers for the Offer.

Prosperity shareholders should also note that the Company is not subject to the City Code on Takeovers and Mergers (the "Code") as its place of central management and control is not in the UK, the Channel Islands or the Isle of Man and Prosperity shareholders will not be afforded any protection under the Code.

The Company's shareholders can review PIHL's regulatory announcement on the Hong Kong Stock Exchange. For further details see: www.pihl-hk.com/html/ir_announce.php

As at the date of this announcement, the Company has 147,909,219 ordinary shares in issue of which 4,517,989 ordinary shares are held in Treasury. The voting capital of the Company is 143,391,230. PIHL holds approximately 64.07 per cent of the voting capital of the Company. The Company also has outstanding options over a further 5,590,000 ordinary shares.

Prosperity does not intend to comment further unless an Offer is received or unless otherwise required by law or applicable regulation.

Shareholders are advised to take no action at this time.

Further enquiries:

 
 Prosperity Minerals Holdings Limited 
  Patrick Li                             +852 3187 2618 
 Daniel Stewart & Company plc 
  Corporate Finance: Paul Shackleton,    +44 (0) 20 7776 
  Antony Legge, Ciaran Walsh              6550 
 Citigate Dewe Rogerson 
  Martin Jackson                         +44 (0) 20 7638 
  Priscilla Garcia                        9571

This information is provided by RNS

The company news service from the London Stock Exchange

END

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