Completion of Squeeze-out Proceedings
New World Resources ('NWR Plc' or the 'Company') is pleased to announce today the completion of squeeze-out proceedings related to the reincorporation of the Company in the United Kingdom in 2011. Following the lapse of a three-month appeal period yesterday, 19 September 2012, NWR Plc will continue to comply fully with the judgement of the Enterprise Chamber of the Amsterdam Court of Appeals rendered on 19 June 2012, and pay a final settlement price of EUR 3.96 per New World Resources N.V. ('NWR NV') A ordinary share (each, a 'Share') (net of dividends and accrued interest). After taking into account the accrued statutory interest and dividends (including an interim squeeze-out dividend expected to be paid on 5 October 2012), the price per Share that will be transferred to remaining NWR NV shareholders is EUR 3.93 per share.
The payment for the remaining Shares will be made on 8 October 2012, and the transfer of NWR NV Shares to NWR Plc is expected to occur on 9 October 2012. Thereafter, NWR Plc will be the sole shareholder of NWR NV.
NWR NV is currently listed on the Warsaw Stock Exchange (the 'WSE'). After 9 October 2012, the company intends to apply for the delisting of its Shares from the WSE. In anticipation of the settlement of the squeeze-out, trading in the Shares on the WSE will be suspended as of 4 October 2012.
NWR Plc will remain listed on London, Warsaw and Prague Stock Exchange.
Source: New World Resources
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