/KASE, 04.04.08/ - EURASIAN NATURAL RESOURCES CORPORATION PLŠ”
(London, in the headline - ENRC), common shares of which are included into
Kazakhstan Stock Exchange (KASE) category "A" official list, provided to KASE
the press release, where informs on the following:
Quotation start
Eurasian Natural Resources Corporation PLC ("ENRC" or, jointly with its
subsidiaries, the Group), is the leading diversified and completely integrated
group in the area of mining and mineral processing, announces about conclusion
of the deal on procurement of the control shares package of Serovskiy Plant of
Ferrous Alloy Materials and some additional assets (Serov). Serov was procured
from various companies, affiliated by Mr. Chodiev, Mr. Ibragimov and Mr.
Mashkevich, who are significant shareholders of ENRC ('Founder').
This deal is the first procurement of ENRC outside Kazakhstan and is mentioned
in the Issue Prospectus, published on December 7, 2007.
The deal amount makes up USD210 m., which includes the prepayment in the
amount of USD100 m., paid by the company in July 2007. To determine a fair
price, ENRC received assets independent assessment. The agreement on
procurement, signed on December 4, 2007, entitled ENRC to all dividends and
other payments, made after December 4, 2007, thereby granting ENRC the
economic advantage beginning this date.
The Serovskiy Plant of Ferrous Alloy Materials - the Russian producer of chromic
ferrous alloy, located in Sverdlovsk region, with the annual sales volume about
200 000 tons. The plant produces the wide range of ferrous alloy, including
high-carbon ferrochromium, medium-carbon ferrochromium, low-carbon
ferrochromium and ferrochrome silicon.
ENRC is confident that procurement of the Serovskiy Plant of Ferrous Alloy
Materials will facilitate strengthening of the Group's market status in the
mining industry, in particular, in the area of ferrochromium production, and
on the market of Kazakhstan and central Asia. In addition, the deal will
facilitate further vertical integration of ENRC subdivision on ferrous alloy
production.
Commenting the deal, Doctor Johannes Sittard, ENRC Chief Executive Director,
said: "We believe that assets of Serovskiy Plant of Ferrous Alloy Materials will
not only supplement the wide range of our products, but also will serve as the
platform for entry of ENRC to the Russian market, which is the part of our
development strategy."
Sir David Cooksey, Chairman of ENRC Board of Directors, added: "This is our
first deal since the time, when we became the public company and we are glad to
its successful completion. We hope that Serovskiy Plant of Ferrous Alloy
Materials will become the significant part of ENRC and will build up the strong
basis for ENRC development in Russian."
For additional, please contact:
ENRC
Mounissa Chodieva +44 (0) 20 7389 1879
James S. Johnson +44 (0) 20 7389 1862
M: Communications
Hugh Morrison +44 (0) 20 7153 1534
Edward Orlebar +44 (0) 20 7153 1523
Julia Kalcheva +44 (0) 20 7153 1517
Quotation end
The full version of the press-release, including the deal details, ENRC and IMR,
is available at
http://www.kase.kz/emitters/scan/gbenrc/gbenrc_reliz_040408.pdf
[2008-04-04]