Celtic Resources Holdings PLC
14 January 2008
Celtic Resources Holdings Plc
("Celtic" or the "Company")
Announcement of intention to delist Celtic shares from trading on AIM
The recommended cash offer for Celtic by Centroferve Limited ("Centroferve"), a
wholly owned subsidiary of Severstal (the "Offer"), was announced as having
become unconditional in all respects on 17 December 2007, as acceptances of the
Offer had been received by Centroferve in respect of 47,266,133 Celtic shares
(representing approximately 84.7 per cent. of the Celtic shares to which the
Offer relates).
At the request of Centroferve, and as set out in Centroferve's offer document to
Celtic shareholders of 20 November 2007, the board of Celtic has therefore
applied for the cancellation of the trading of Celtic shares on AIM (the
"Delisting"). The Delisting will take effect at 7.00 a.m. on 22 January 2008 and
a further announcement will be made at that time.
In addition, having received acceptances of the Offer in respect of more than 80
per cent. of the Celtic shares to which the Offer relates, Centroferve has sent
out notices pursuant to the provisions of Section 204 of the Irish Companies Act
1963, informing those holders of Celtic shares who have not yet validly accepted
the Offer of its intention compulsorily to acquire all outstanding Celtic shares
to which the Offer relates, on the same terms as the Offer.
Enquiries:
Celtic Resources Holdings Plc
Kevin Foo / Jonathan Scott-Barrett
Tel: + 44 (0)20 7921 8800
Cardew Group
Anthony Cardew / Shan Shan Willenbrock
Tel: +44 (0)20 7930 0777 / +44 (0)777 072 0389
anthony.cardew@cardewgroup.com
Conduit PR
Leesa Peters / Jane Stacey
Tel: +44 (0)20 7429 6606 / +44 (0)781 215 9885
leesa@conduitpr.com
Strand Partners Limited
Simon Raggett / Stuart Faulkner
Tel: +44 (0)20 7409 3494
Centroferve
Roman Deniskin / Nikolai Zelenski
Tel: +7 495 9810 910 ext.6633
Morgan Stanley & Co. Limited
Peter Bacchus / Arash Mahdaviani
Tel: +44 20 7425 8000
The Directors of Celtic accept responsibility for the information contained in
this announcement and to the best of their knowledge and belief (having taken
all reasonable care to ensure that such is the case), the information contained
in this announcement is in accordance with the facts and, where appropriate,
does not omit anything likely to affect the import of such information.
This information is provided by RNS
The company news service from the London Stock Exchange
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