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Partial disposal and dividend
Partial disposal and dividend.
About this update from Uru Metals Limited
[{"type":"text","content":"\n RNS Number : 2507H Niger Uranium Limited 16 February 2010 \n\n \nFor immediate release\n \n16 February 2010\n \nNiger Uranium Limited\n(\"Niger Uranium\" or the \"Company\")\nPartial disposal of an interest in Kalahari Minerals plc (\"Kalahari\")\nand Dividend\n \nThe Board of the Company announces that it has today sold on an arms-length basis through the market, 14,000,000 shares in Kalahari at a price of 165p (the \"Disposal\"). The total consideration before costs amounts to £23,100,000 in cash (the \"Cash Proceeds\").\n \nThe Cash Proceeds, without any deduction of costs, are to be returned to shareholders as soon as possible by way of an interim dividend to be paid to shareholders. Based on an issued share capital of 113,210,056 Niger Ordinary Shares of nominal value of US $0.01 each (the \"Ordinary Shares\"), the interim dividend amounts to 20.4p in cash per Ordinary Share (the \"Dividend\"). In accordance with the Stock Exchange dividend procedure timetable, the record date is Friday 26 February 2010 (the \"Record Date\") and the ex-dividend date is Wednesday 24 February 2010. Payment will be made to shareholders within 10 business days of the Record Date.\n \nFollowing the Disposal, the Company will continue to hold 13,680,000 Kalahari shares. The Board intends to propose that up to a further 12,296,000 Kalahari shares will be distributed to shareholders in specie by way of a second interim dividend (the \"Further Disposal\"). The Further Disposal can only be made with shareholder approval and will therefore be put to shareholders for their approval at the forthcoming Annual General Meeting (the \"AGM\"), notice of which will despatched in due course. \n \nAs previously announced on 20 January 2010, the Company received a requisition from NWT Uranium Corp to convene an Extraordinary General Meeting including a proposed resolution to the effect that the Board should in turn requisition a general meeting of Kalahari, with a view to Kalahari's members passing a resolution to affect a distribution in specie of not less than ninety per cent. of the shares that Kalahari owns in Extract Resources Limited (\"Extract\") to the shareholders of Kalahari (the \"NWT Resolutions\"). The NWT Resolutions will also be included in the notice of the AGM.\n \nAs previously stated, the Board ...