Majority Shareholder Exit Completed
New World Resources Plc (‘NWR Plc’ and together with its subsidiaries, the ‘NWR Group’) today announces that CERCL Mining Holdings B.V. and its
affiliates have transferred all of their shares in NWR Plc to NWR Plc for zero consideration.
On 24 February 2016, NWR Plc announced that CERCL Mining Holdings B.V. and its affiliates including Asental Property B.V. (together, ‘CERCL’) have agreed to transfer for nil consideration all of their shares in the NWR Plc to NWR Plc in order to facilitate the restructuring process by reducing the number of stakeholders involved in its negotiation and implementation. At that time the transaction was subject to satisfaction of certain conditions, which now all have been fulfilled.
This brings to a close CERCL's association with the NWR Group. Peter Kadas and Charles Harman had already resigned their non-independent non-executive
directorships in all companies in the NWR Group in anticipation of the transaction.