Competition Commission approval of acquisition

RNS Number : 2326K

Tharisa PLC

06 July 2017

 

Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability)

(Registration number HE223412)

JSE share code: THA

LSE share code: THS

ISIN: CY0103562118

('Tharisa')

South African Competition Commission approval of acquisition of MCC Contracts Proprietary Limited's mining fleet by and transfer of employees to Tharisa Minerals (Pty) Ltd

Further to the announcement on 11 May 2017 that Tharisa Minerals Proprietary Limited (Tharisa Minerals) had entered into a binding term sheet with MCC Contracts Proprietary Limited (MCC) on 10 May 2017 in terms of which Tharisa Minerals will purchase, subject to the fulfilment of certain conditions precedent, certain of MCC's existing equipment, strategic components, site infrastructure and  spare parts, and transfer the employees currently deployed at its Tharisa Mine in South Africa (the Transaction), shareholders are advised that the transaction has been unconditionally approved by the South African Competition Commission.

The effective date of the Transaction will be the date immediately following the fulfilment or waiver, as applicable, of the remaining conditions precedent, or such later date as may be agreed between the parties.

Paphos, Cyprus

6 July 2017

JSE Sponsor

Investec Bank Limited

Investor Relations contact:

Tharisa plc

Sherilee Lakmidas

[phone]

[phone]

[e-mail]

Broker contacts:

Peel Hunt LLP (Joint Broker)

Matthew Armitt / Ross Allister

[phone]

BMO Capital Markets Limited (Joint Broker)

Jeffrey Couch/Neil Haycock/Thomas Rider

[phone]

Financial PR contacts:

Bobby Morse/Anna Michniewicz

[phone]

[e-mail]

 

END

 

 

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