Tantalus Rare Earths AG

  • WKN: A1MMFF
  • Land: Deutschland

Nachricht vom 27.04.2017 | 11:07

Tantalus Rare Earths AG: Conditions under second Share Sale and Purchase Agreement are not yet fulfilled

Tantalus Rare Earths AG / Key word(s): Takeover

27-Apr-2017 / 11:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


 

Ad-hoc-Notice

Conditions under second Share Sale and Purchase Agreement are not yet fulfilled - Tantalum Holding (Mauritius) Limited and operating company in Madagascar need additional funding

Munich, 27 April 2017

According to the second Share Sale and Purchase Agreement between Tantalus Rare Earths AG and REO Magnetic Pte. Ltd. (formerly Apphia Minerals SOF Pte. Ltd.) the transfer of the remaining 40 % of the shares in Tantalum Holding (Mauritius) Limited to REO Magnetic Pte. Ltd. is conditional upon the fulfilment of certain conditions precedents by both parties. The management board of Tantalus Rare Earths AG has been informed by REO Magnetic Pte. Ltd. that REO is considering whether it will be necessary to propose an extension to the completion timeline of August 2017. The management board will review the proposal if one is received.

The management board of Tantalus Rare Earths AG notes that Tantalum Holding (Mauritius) Limited and the operating company in Madagascar need additional funding. The management board reviews all options regarding funding for both companies in close cooperation with Tantalum Holding (Mauritius) Limited's majority shareholder REO Magnetic Pte. Ltd.

Tantalus Rare Earths AG
Management Board

About Tantalus Rare Earths AG

Tantalus Rare Earths AG (ISIN DE000A1MMFF4) is a Germany-based company. Tantalus's shares are quoted on the Open Market of the Düsseldorf Stock Exchange.

Contact

Markus Kivimäki, Managing Director, Tantalus Rare Earths AG
Tel.: +358 503 495 687
Markus.kivimaki@tre-ag.com

German media contact

rikutis consulting
Falk v. Kriegsheim
Tel.: +49 172 9837109
fvk@rikutis.de


27-Apr-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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