Arrangements for Trading in IGE Shares


 

TIDMPDF 
 
RNS Number : 4321K 
Pangea DiamondFields PLC 
20 April 2010 
 

20 April 2010 
                                           AIM: PDF 
 
                            Pangea DiamondFields plc 
                          ('Pangea' or the 'Company') 
 
                     Arrangements for Trading in IGE Shares 
 
On 1 April 2010 the Company announced that it had completed the disposal of 
Efidium Limited to International Gold Exploration AB ('IGE') in consideration 
for 495,399,057 fully paid ordinary shares in the capital of IGE ('IGE Shares'). 
 
As described in the circular sent to shareholders on 6 April 2010 (the 
'Circular'), subject to shareholder approval at a extraordinary general meeting 
of the Company to be held on 28 April 2010, as part of a members' voluntary 
liquidation process, the proposed liquidator intends to make an interim 
distribution in specie (by way of transfer of assets rather than in cash) to 
shareholders as soon as it is prudent to do so, to take the form of 421,000,000 
IGE Shares, representing approximately 85% of the IGE Shares now held by Pangea. 
The proposed distribution equates to the distribution of approximately 0.236 IGE 
Shares per Pangea ordinary share. 
 
As described in the Circular, The IGE Shares are traded on the Oslo Stock 
Exchange where shares are traded only in electronic form through the Euroclear/ 
VPS system. In order to receive IGE Shares as part of the distribution of the 
Consideration Shares described above, Shareholders will therefore require access 
to the Euroclear/ VPS system to facilitate settlement in any such distribution. 
 
The Company announces that it has today posted a letter to shareholders 
describing the process by which shareholders can register with the Company for 
the proposed distribution of IGE Shares. The Company is also pleased to announce 
that Terra Markets, a leading Norwegian brokerage firm, has agreed to offer 
Pangea shareholders the opportunity to open a brokerage account, providing 
access to the Euroclear/ VPS system and the opportunity to trade IGE Shares in 
the future. A Terra Markets account opening form and details of the account 
opening process have also today been sent to shareholders. 
 
Shareholders who already have access to the Euroclear/ VPS system or who wish to 
make alternative arrangements are of course under no obligation to take 
advantage of the Terra Markets offer. 
 
The letter sent to shareholders today, together with Terra Markets account 
opening information is also available for download from the Company's web site: 
www.pangeadiamondfields.com 
 
 
Further information: 
 
+----------------------+------------------------+-----------------------+ 
| Pangea DiamondFields | Ambrian Partners       | Walbrook PR Ltd       | 
| plc                  | Limited                |                       | 
|                      |                        |                       | 
+----------------------+------------------------+-----------------------+ 
| Boris Kamstra        | Richard Brown /        | Louise Goodeve / Leah | 
|                      | Richard Greenfield     | Kramer                | 
+----------------------+------------------------+-----------------------+ 
| T: +27 11 438 4100   | T: +44 (0) 20 7634     | T: +44 (0) 20 7933    | 
|                      | 4700                   | 8780                  | 
|                      |                        |                       | 
+----------------------+------------------------+-----------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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