Key Developments For Monterrico Metals PLC
Monterrico Metals plc Announces Stability Agreements For Monterrico's Peruvian Subsidiaries
Monterrico Metals plc announced that the Government of Peru has issued a Ministerial Resolution to approve two Stability Agreements which will be entered into with Monterrico's Peruvian subsidiaries: Rio Blanco Copper Limited and Minera Majaz S.A. The agreements will be signed shortly by senior Government representatives.
Monterrico Metals plc Announces New Financing Facility
Monterrico Metals plc announced that it has entered into a loan facility agreement (the Loan Facility) with Xiamen Zijin Tongguan Investment Development Co., Ltd (Zijin Consortium), the majority shareholder of the Company following completion of its recommended cash offer for the Company. The Loan Facility is for an aggregate amount of up to US$8,000,000 at an interest rate of not greater than 1 per cent. above the LIBOR rate from time to time as published by the British Bankers Association (BBA). The loan is repayable on June 29, 2008.
Monterrico Metals plc Announces Appointment Of CEO
Monterrico Metals plc announced that it has appointed Mr Huang Xiaodong as Executive Director and Chief Executive Officer of the Company.
Xiamen C&D Inc. Announces Success in Tender Offer to Monterrico Metals plc by Xiamen Zijin Tongguan Investment Development Co., Ltd
Monterrico Metals plc: Xiamen C&D Inc. announced that the success of its Xiamen-based 45%-owned associate, Xiamen Zijin Tongguan Investment Development Co., Ltd, in the tender offer to Monterrico Metals plc. Zijin Tongguan Investment Development Co., Ltd has gained acceptance from investors representing 23,649,509 shares (or 89.9% of the voting rights). Details of the transaction are not disclosed.
Monterrico Metals plc Announces New Financing Facility
Monterrico Metals plc announced that on April 30, 2007, it entered into a loan facility agreement with Xiamen Zijin Tongguan Investment Development Co., Ltd., the majority shareholder of Monterrico following completion of its recommended cash offer for Monterrico. The loan facility is for an aggregate amount of up to £2 million at an interest rate of not greater than 1% above the base rate from time to time of Barclays Bank plc. The loan is repayable on April 30, 2008.
