22 Apr 2009 09:10
22 April 2008
PETER HAMBRO MINING PLC
COMPLETION OF ARICOM ACQUISITION & MOVE TO MAIN MARKET
On 6 February 2009 the Independent Board Committees of Aricom plc ("Aricom") and Peter
Hambro Mining Plc ("PHM" or the "Company") announced that they had reached agreement on the terms of a recommended all share offer to be made by PHM for the entire issued share capital of Aricom (the "Merger").
Earlier today, the Independent Board Committee of Aricom announced that the Court has sanctioned the scheme of arrangement relating to the recommended all share offer ("Share Scheme"), which was required in order to implement the Merger, and the scheme of arrangement relating to the exchange of Aricom Warrants for new Peter Hambro Mining Warrants ("Warrant Scheme"). PHM confirms that the Share Scheme and the Warrant Scheme have today become effective in accordance with their terms. Trading in Aricom shares and warrants on the London Stock Exchange was cancelled at 8.00am (London time) today.
The Company is also pleased to announce that it has successfully transferred the listing of its entire issued ordinary share capital from AIM to the Official List of the UK Listing Authority ("Official List"). Admission of PHM shares to trading on London Stock Exchange plc's main market for listed securities ("Main Market") and commencement of dealings became effective from 8.00 a.m. today. Trading in all the Company's ordinary shares on AIM has been cancelled simultaneously. The New PHM Shares and New PHM Warrants issued in connection with the Merger have also been admitted to the Official List and commenced trading on the Main Market today. The ticker for the Company's ordinary shares will continue to be LSE: POG and the ticker for the new PHM warrants will be LSE: POGW. At admission there were 171,083,485 ordinary shares and 8,312,463 warrants in issue.
The Company is also pleased to announce that the 2008 Annual Report and Accounts for Peter Hambro Mining Plc will be available today to download from the Company's website www.peterhambro.com and copies are currently being prepared for mailing to shareholders.
Peter Hambro, Chairman, commented: "The successful completion of the merger with Aricom and the move to the Main Board of the London Stock Exchange both mark significant milestones in the development of PHM as a leading natural resources company, with a focus on the Far East of Russia.
We have grown tremendously since we first listed on AIM in April 2002 and we look forward to the next stage in our development where we continue to grow our production of profitable ounces of gold whilst exploring the alternatives to take forward the Iron Ore projects."
Enquiries:
Peter Hambro Mining Plc
Alya Samokhvalova
+44 (0)20 7201 8900
J.P. Morgan Cazenove
Ian Hannam
Patrick Magee
+44 (0)20 7155 2828
Canaccord Adams Limited
Robert Finlay
Guy Blakeney
+44 (0)20 7050 6500
Merlin
David Simonson
Tom Randell
Maria Suleymanova
+44 (0)20 7653 6620