Belmore Resources (Holdings) plc
LSE : BEL

June 30, 2011 11:30 ET

Offer unconditional in all respects and withdrawal from the PLUS Market



                                                                                               30 June 2011

                                         RECOMMENDED CASH OFFER BY
LUNDIN MINING EXPLORATION LIMITED ("LUMIEX") TO ACQUIRE THE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF
                               BELMORE RESOURCES (HOLDINGS) PLC ("BELMORE")
                                                     
                               INTENTION OF WITHDRAWAL FROM THE PLUS MARKET
                                                     
     OFFER UNCONDITIONAL IN ALL RESPECTS, ANNOUNCEMENT OF LEVEL OF ACCEPTANCES AND EXTENSION OF OFFER

The Directors of Belmore Resources (Holdings) Plc announce that all of the conditions of the Offer have now
been satisfied or waived and, accordingly, the Offer has been declared unconditional in all respects. As at
11:00 a.m. (Dublin time), on Thursday, 30 June 2011, the first closing date of the Offer, valid acceptances
of  the Offer which are complete in all respects had been received in respect of 36,282,463 Belmore Shares.
This  represents, in aggregate, approximately 91.99 per cent of Belmore's current issued share capital (not
including the Belmore Shares already owned by LumiEx).

The  Offer  has  now been extended and will remain open for acceptance until 11:00 a.m. (Dublin  time),  on
Thursday, 14 July 2011.

To ensure that Belmore Shareholders who have not yet accepted the Offer receive their proceeds of the Offer
at  the earliest possible date, they should complete and return the Form of Acceptance so as to be received
as soon as possible and by no later than 11:00 a.m. (Dublin time), on Thursday, 14 July 2011.

The consideration due under the Offer in respect of acceptances that have been received and are complete in
all  respects  will  be dispatched on or before Thursday, 14 July 2011, and within 14 days  of  receipt  in
respect of further acceptances that are complete in all respects.

LumiEx intends to effect the compulsory acquisition procedures provided for in Section 204 of the Companies
Act,  1963  to acquire any Belmore Shares in respect of which valid acceptances are not received under  the
terms  of  the Offer. Notices to non-accepting Belmore Shareholders are expected to be posted  by  14  July
2011.

LumiEx  also intends to procure that Belmore applies to the relevant authorities for Belmore Shares  to  be
delisted  and to the PLUS Stock Exchange for trading in Belmore Shares to be cancelled no earlier than  ten
business days from today and by no later than 30 July 2011.

As  such, the Directors of Belmore announce the intention to withdraw Belmore's shares from trading on  the
PLUS Market on 14 July 2011.

Given  that valid acceptances of the Offer which are complete in all respects had been received as at 11:00
a.m.  (Dublin  time),  on Thursday, 30 June 2011 in respect of 36,282,463 Belmore Shares  representing,  in
aggregate, approximately 91.99 per cent of Belmore's current issued share capital, the PLUS Stock  Exchange
has waived the requirement by Belmore to give Belmore Shareholders a 10 day notice of intention to withdraw
its securities from the PLUS Market.

The  terms of the Offer remain the same as set forth in the Offer Document and related acceptance materials
previously distributed to Belmore Shareholders.

Terms used in this announcement have the same meaning as those contained in the Offer Document.
For further information, contact:

 Belmore Resources (Holdings) plc                Lundin Mining Exploration Limited
 
 Patrick Mahony                                  James Ingram
 Director                                        Corporate Secretary
 Belmore Resources (Holdings) plc                Lundin Mining Corporation
 103 Rathfarnham Wood,                           150 King St West,
 Rathfarnham,                                    Suite 1500,
 Dublin 14                                       Toronto,
 Ireland                                         ON M5H 1J9
                                                 Canada
                                                 
                                                 
 Tel: + 353 876812883                            Tel: + 1 416 342 5570
                                                 
 Rivington Street Corporate Finance
 (PLUS Advisor)
 
 Eran Zucker
 
 Tel: + 44 (0)20 7562 3373
 
 
 Bishopsgate Communications Ltd                  
                                                 
 Nick Rome/Michael Kinirons
 
 Tel: + 44 (0)20 7562 3350



Contact Information

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