MDM ENGINEERING GROUP LIMITED
MDM Engineering Group Limited (AIM: MDM), the minerals process and project management company focused on the mining industry in Africa, is pleased to announce that approval for the proposed merger with Foster Wheeler AG (Nasdaq: FWLT) ("Foster Wheeler") has been received from the South African Competition Commission.
The Merger remains subject to the satisfaction of a number of conditions precedent, as defined in the Merger Implementation Agreement. The outstanding conditions precedent are responsibilities of both MDM and Foster Wheeler and do not require third party approval or consent. The conditions precedent which MDM must satisfy are: (1) no prescribed event or material adverse change occuring (each as defined in the Merger Implementation Agreement), and (2) confirmation of the working capital position of the group, including its cash position, being above certain minimum agreed levels.
As outlined in the announcement on 13 March 2014, immediately following the implementation of the Merger, the admission to trading on the AIM Market of the London Stock Exchange of MDM's ordinary shares will be cancelled. A further announcement will be made in due course which shall include the intended date of the cancellation.
Enquiries:
MDM Engineering Group Limited
Martin Smith (CEO)
George Bennett (Executive Director)
Tel: +27 (0) 11 993 4300
Canaccord Genuity Limited
NOMAD and Broker
Neil Elliot
Chris Fincken
Tel: +44 (0)20 7523 8000
Tavistock Communications
Financial Public Relations and Investor
Emily Fenton
Jos Simson
Tel: +44 (0)20 7920 3150
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