Stmnt re Share Price Movement

RNS Number : 8139I

Aurum Mining PLC

24 November 2008

 



For immediate release

24 November 2008

AURUM MINING PLC

('Aurum' or 'the Company')

Statement re. Share Price Movement and Rule 2.10 announcement

The Board of Aurum notes the recent movement in the Company's share price. The Company confirms that it has received various approaches, none of which the Board feel are currently acceptable to recommend to shareholders and is continuing with the Strategic Review which may or may not lead to an offer for the Company. 

As per the Preliminary Results announcement on the 29 September 2008, the Company will report on this Strategic Review by the end of November 2008.

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the Company confirms that it has 48,188,275 ordinary shares of 1 pence each in issue.

The ISIN reference for these securities is GB00B00T3528.

For further information: 

Aurum Mining plc	Tel: [phone]
Mark Jones, Chief Executive Officer Chris Eadie, Chief Financial Officer
Arbuthnot Securities	Tel: [phone]
John Prior
Buchanan Communications	Tel: [phone]
Mark Court / Rebecca Skye Dietrich

Dealing disclosure requirements

Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of the Company, all 'dealings' in any 'relevant securities' of the Company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of the Company, they will be deemed to be a single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of the Company by the Company or by any of its respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk . 

'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in price or securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.

 

END

 

 

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