Application for Additional Listing
Centamin Egypt Limited ("Centamin" or "the Company")
(LSE:CEY, TSX:CEE)
APPLICATION FOR ADDITIONAL LISTING
Application has been made to the UK Listing Authority and the London Stock Exchange for, respectively, admission to the Official List and admission to trading on the Main Market of the London Stock Exchange of 8,742,500 new ordinary shares in the capital of Centamin Egypt Limited (the "New Shares"). Of the New Shares, 3,000,000 were issued pursuant to the shareholder-approved Executive Director Loan Funded Share Plan 2011 ("EDLFSP") and 5,742,500 were issued pursuant to the shareholder-approved Employee Loan Funded Share Plan 2011 ("ELFSP"), and all such shares will rank pari passu with the existing issued ordinary shares of Centamin Egypt Limited.
The New Shares are expected to be admitted to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange at 8.00 a.m. on Thursday, 24 March 2011.
The New Shares have been issued to Computershare Nominees (Channel Islands) Limited as bare trustee for the relevant participants under the EDLFSP and ELFSP.
Under the terms of the EDLFSP and ELFSP, the Company has provided a limited recourse and interest free loan to certain executive directors and employees of the Company for the purpose of acquiring the New Shares (the "Loan"). The purchase of the New Shares has been funded by the Loan and the New Shares will not vest until certain performance conditions are met. In the event the performance conditions are not met, or the shares are forfeited by the participant, the Company can either re-acquire the shares or direct the trustee to sell them on, offsetting the proceeds against the outstanding loan amount and waiving the remainder of the loan. Subject to performance conditions and time based hurdles being met, the loan will be repayable by the relevant executive director or employee in full on the earlier of the termination date of the loan (3 years from the date of issue) or the date on which the New Shares are disposed of.
Further details of the EDLFSP and ELFSP can be found in the Company's Notice of General Meeting for the shareholder meeting held on Tuesday, 15 February 2011, and full copies of both plans are available upon request.
In accordance with DTR 3.1.4, the Company notes that following the issue of 1,000,000 ordinary shares to each of the Company's three executive directors on Monday, 21 March 2011 at a price of £1.258521 per ordinary share:-
- Mr Josef El-Raghy now holds an interest in 70,195,086 ordinary shares in the Company, representing
approximately 6.43% of the total issued ordinary shares.
- Mr Harry Michael, Chief Executive Officer, now holds an interest in 1,125,000 ordinary shares in the Company, representing approximately 0.10% of the total issued ordinary shares.
- Mr Trevor Schultz, Executive Director of Operations, now holds an interest in 1,000,000 ordinary shares in the Company, representing approximately 0.09% of the total issued ordinary shares, and 1,000,000 employee options with an exercise price of A$1.00 and an expiry date of 19 December 2011.
Following the issue of the New Shares, the issued share capital of the Company now comprises 1,090,708,750 ordinary shares. None of these ordinary shares are held in Treasury.
Therefore, the total number of voting rights in the Company is 1,090,708,750. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FSA's Disclosure Rules and Transparency Rules.
For Centamin Egypt Limited
Heidi Brown
Company Secretary
22 March 2011
For more information please contact:
|
Centamin Egypt Limited + 61 (8) 9316 2640 Josef El-Raghy / Heidi Brown |
Buchanan Communications Limited + 44 (0) 20 7466 5000 Bobby Morse Katharine Sutton |
This information is provided by RNS