KWR - Kiwara Plc - calculation and payment of scheme consideration to Kiwara

KWR
KWR                                                                             
KWR - Kiwara Plc - calculation and payment of scheme consideration to Kiwara    
shareholders on the SA register                                                 
Kiwara plc                                                                      
(Incorporated in the United Kingdom)                                            
Registration number: 01760458                                                   
JSE: KWR                                                                        
ISIN: GB0007702953                                                              
("Kiwara" or the "Company")                                                     
CALCULATION AND PAYMENT OF SCHEME CONSIDERATION TO KIWARA SHAREHOLDERS ON THE   
SA REGISTER                                                                     
Further to the news release dated 29 January 2010 regarding the Scheme          
becoming become 
effective, the consideration payable to Shareholders on the SA  
Register has been remitted to the South African Transfer Secretaries. The       
consideration due under the Scheme to Scheme Shareholders consists of 0.0085    
New First Quantum Shares and 37.5 pence for every Scheme Share. In accordance   
with a ruling by the exchange control department of SARB, the New First         
Quantum Shares shall be issued to a person or persons appointed by the Company  
who shall hold such shares as nominee for the Shareholder and shall sell the    
shares and remit the net cash proceeds of the sale pro rata to such             
Shareholder.                                                                    
The payment now due to Shareholders on the SA Register is as follows:           
*    In respect of the cash payment of 37.5 pence for every Scheme Share:       
    R4.515255, calculated at an exchange rate of R12.04068. Payment will be     
made and Dematerialised Scheme 
Shareholders` accounts (held at their CSDP   
    or broker) updated on Tuesday, 9 February, and                              
*    In respect of the sale of New First Quantum Shares as set out above:       
    R522.03 per New First Quantum Share, calculated at a price per New First    
Quantum Share of GBP43.35 per share and an exchange rate of R12.04241.      
    Payment will be made at a date to be announced.                             
In accordance with the requirements of the JSE, the listing of Kiwara Shares    
on the JSE is expected to terminate with effect on the commencement of          
business on 10 February 2010, subject to payment being made in terms of the     
second bullet above.                                                            
Any capitalised term used but not defined in this announcement is as defined    
in the shareholder circular relating to the Scheme dated 18 December 2009.      
08 February 2010                                                   
             
On Behalf of the Board of Directors                                             
Kiwara Plc                                                                      
Colin Bird                                                                      
Executive Chairman                                                              
Enquiries:                                                                      
Date: 08/02/2010 15:39:09 Produced by the JSE SENS Department.                  
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