Press releases

MDM project pipeline shift

Redistribution of MDM Shares by Amari Holdings Limited and Director’s Dealing

29 June 2011

The Company has been informed that, on 30 June 2011, Amari Holdings Limited ("AHL"), which currently owns 11,484,538 ordinary shares in MDM, representing 30.7 per cent of the Company's current issued share capital, will distribute its entire interest in such ordinary shares to AHL's 14 underlying shareholders.

As a result of this distribution, two of AHL’s underlying shareholders will be interested in excess of 3% of the issued share capital of MDM. The 9-0 Trust will hold a total of 6,081,428 ordinary shares representing 16.2% of MDM’s issued share capital. Alpine Nominees Limited will hold a total of 2,830,854 ordinary shares representing 7.6% of MDM’s issued share capital.

In addition, the MS Investment Trust, of which Mark Summers, currently a Non-Executive Director of MDM, is a trustee, will receive in aggregate 438,480 ordinary shares. This, together with his existing indirect interest of 103,758 ordinary shares in Ocean Tent Investments Limited, will increase his indirect interest in the Company to 542,238 ordinary shares representing 1.4% of MDM’s issued share capital.

The underlying shareholders in AHL have each agreed to enter into orderly market agreements with both the Company and the Company's nominated adviser for a period of 12 months from the date of this announcement. Formal documentation in relation to orderly market arrangements is expected to be entered into shortly.

Key Information:

MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The Company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the Company’s clients have largely been junior and mid-tier mining corporations with operations in Africa.

The MDM Engineering core technical team has a 23 year track record of completing a wide range of studies and execution projects across a variety of minerals, including precious metals, base metals, ferrous and non-ferrous metals, uranium and diamonds.

The Company has adopted an approach to project execution based on an open-book Engineering, Procurement, Construction Management (“EPCM” or “cost-plus”) basis. With a core focus on Africa, MDM Engineering is setting the benchmark standard for best practice in the mining services industry through its commitment to providing the highest quality services and actively engaging with clients to ensure maximum transparency.

Enquiries:

MDM Engineering Group Limited

Martin Smith (CEO)
George Bennett (Executive Director)
Dominique de la Roche (Finance Director)
Tel: +27 (0) 11 993 4300

Collins Stewart Europe Limited

Adrian Hadden
John Prior
Tel: +44 (0)20 7523 8350

 

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