Metorex Limited ("the Company") has asked the UK Financial Services Authority to cancel the listing of the Company's ordinary shares ("Ordinary Shares") on the UK Official List and to cancel the admission of the Ordinary Shares to trading on the London Stock Exchange's market for listed securities. It is expected that the cancellation of the UK listing and of the admission of the Ordinary Shares to trading on the London Stock Exchange will take effect at 8.00 a.m. (UK time) on Monday, 9 March 2009.
The Ordinary Shares have been listed on the UK Official List since 1951. Currently, shareholders holding 1,411,191 Ordinary Shares (equivalent to approximately 0.2% of the total issued share capital of the Company) appear on the Company's UK register of members.
However, since listing in the UK, only a small amount of trading in the Ordinary Shares has been conducted on the London Stock Exchange (the "LSE") and taking into account the high costs associated with being admitted to the UK Official List, the board of the Company consider that there is no longer any significant benefit to the Company in maintaining this listing.
Following cancellation of the listing and of admission to trading in London and for as long as the Company maintains a UK register, all matters relating to the Ordinary Shares on the UK register will continue to be dealt with by the Company's UK registrars, Capita Registrars and the Company will continue to correspond with UK register shareholders in the same manner as currently, including matters relating to dividends and notices. Subject to UK register shareholders putting the appropriate arrangements in place, the Ordinary Shares currently on the UK register may still be traded on the JSE Ltd.
By Order of the Board
Charles Needham
6 February 2009
Registered Office
Metorex Limited
2nd Floor, Cradock Heights
21 Cradock Avenue
Rosebank 2196, South Africa
(PO Box 2814, Saxonwold 2132)
United Kingdom Registrars
The Capita Group plc
The Registry
34 Beckenham Road
Beckenham, Kent BR34TU
England
United Kingdom Secretaries
St James's Corporate Services Limited
6 St James's Place
London SW1A 1NP
CRC - Related Party Announcement
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CRC - Board Resignation
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