Application for additional listing

RNS Number : 8994I

Centamin Egypt Limited

22 June 2011

 



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 825,000 new ordinary shares in the capital of Centamin Egypt Limited (the "New Shares"). These shares 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 or around Friday, 24 June 2011.

The New Shares have been issued to Computershare Nominees (Channel Islands) Limited as bare trustee for the relevant participants under ELFSP.

Under the terms of the ELFSP, the Company has provided a limited recourse and interest free loan to certain 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 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 ELFSP can be found in the Company's Annual Report or Notice of General Meeting for the shareholder meeting held on Tuesday, 15 February 2011, and full copies of the plan are available upon request.

Following the issue of the New Shares, the issued share capital of the Company now comprises 1,091,858,750 ordinary shares. None of these ordinary shares are held in Treasury.

Therefore, the total number of voting rights in the Company is 1,091,858,750. 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 June 2011

For more information please contact:

Centamin Egypt Limited

+ 61 (8) 9316 2640

Josef El-Raghy / Heidi Brown

www.centamin.com

Buchanan Communications Limited

+ 44 (0) 20 7466 5000

Bobby Morse

Katharine Sutton

 

END

 

 

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