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Press Releases / 2012 / Completion of Squeeze-out Proceedings 

Completion of Squeeze-out Proceedings

20/9/2012

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

New World Resources (‘NWR Plc’ or the ‘Company’) is pleased to announce today the completion of squeeze-out proceedings related to the reincorporation of the Company in the United Kingdom in 2011. Following the lapse of a three-month appeal period yesterday, 19 September 2012, NWR Plc will continue to comply fully with the judgement of the Enterprise Chamber of the Amsterdam Court of Appeals rendered on 19 June 2012, and pay a final settlement price of EUR 3.96 per New World Resources N.V. (‘NWR NV’) A ordinary share (each, a ‘Share’) (net of dividends and accrued interest). After taking into account the accrued statutory interest and dividends (including an interim squeeze-out dividend expected to be paid on 5 October 2012), the price per Share that will be transferred to remaining NWR NV shareholders is EUR 3.93 per share.

The payment for the remaining Shares will be made on 8 October 2012, and the transfer of NWR NV Shares to NWR Plc is expected to occur on 9 October 2012. Thereafter, NWR Plc will be the sole shareholder of NWR NV.

NWR NV is currently listed on the Warsaw Stock Exchange (the ‘WSE’). After 9 October 2012, the company intends to apply for the delisting of its Shares from the WSE. In anticipation of the settlement of the squeeze-out, trading in the Shares on the WSE will be suspended as of 4 October 2012.

NWR Plc will remain listed on London, Warsaw and Prague Stock Exchange.

Further information on the process can be found on the Company’s website.

- Ends -

For further information:

Investor Relations  Corporate Communications
Tel: +31 20 570 2244 Tel: +31 20 570 2229
Email: ir@nwrgroup.eu Email: pr@nwrgroup.eu

Website: www.newworldresources.eu

 

About NWR:

New World Resources Plc is one of Central Europe’s leading hard coal and coke producers. NWR produces quality coking and thermal coal for the steel and energy sectors in Central Europe through its subsidiary OKD, the largest hard coal mining company in the Czech Republic. NWR's coke subsidiary OKK, is Europe's largest producer of foundry coke. NWR currently has several development projects in Poland and the Czech Republic, which form part of NWR's regional growth strategy. NWR is a FTSE 250 company, with listings in London, Prague and Warsaw.

This announcement is for information purposes only and does not constitute an offer to sell or an invitation to purchase any securities or the solicitation of an offer to buy any securities, and will under no circumstances constitute the basis for a decision to invest in the shares of NWR NV or NWR Plc.

Non-UK Shareholders

For the purposes of this announcement “Restricted Jurisdiction” refers to any jurisdiction where the release, publication or distribution of this announcement would violate the law of that jurisdiction. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to other jurisdictions should inform themselves of, and observe, any applicable requirements.

Copies of this announcement must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from a Restricted Jurisdiction where to do so would violate the laws of that jurisdiction, and persons receiving this announcement (including custodians, nominees and trustees) must not mail or otherwise distribute or send them in, into or from such jurisdictions.

If you are a resident of the United States, please read the following:

It may be difficult for you to enforce your rights and any claim you may have arising under the federal securities laws, since NWR Plc is located in a non-US jurisdiction, and some or all of its officers and directors may be residents of non-US jurisdictions.

You may not be able to sue a non-US company or its officers or directors in a non-US court for violations of the US securities laws. It may be difficult to compel a non-US company and its affiliates to subject themselves to a US court’s judgment.

Disclaimer and Cautionary Note on Forward Looking Statements and Notes on Certain Other Matters

Certain statements in this document are not historical facts and are or are deemed to be “forward-looking”. NWR Plc’s or NWR NV’s prospects, plans, financial position and business strategy, and statements pertaining to the capital resources, future expenditure for development projects and results of operations, may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology including, but not limited to; “may”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “will”, “could”, “may”, “might”, “believe” or “continue” or the negatives of these terms or variations of them or similar terminology. Although NWR Plc and NWR NV believe that the expectations reflected in these forward-looking statements are reasonable, they can give no assurance that these expectations will prove to have been correct. These forward looking statements involve a number of risks, uncertainties and other facts that may cause actual results to be materially different from those expressed or implied in these forward-looking statements because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond NWR Plc’s or NWR NV’s ability to control or predict. Forward-looking statements are not guarantees of future performances. Factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected include, but are not limited to, the following: risks relating to changes in political, economic and social conditions in the United Kingdom, the Czech Republic, Poland and the CEE region; future prices and demand for NWR Plc’s or NWR NV’s products, and demand for NWR Plc’s or NWR NV’s customers' products; coal mine reserves; remaining life of NWR Plc’s or NWR NV’s mines; coal production; trends in the coal industry and domestic and international coal market conditions; risks in coal mining operations; future expansion plans and capital expenditures; NWR Plc’s or NWR NV’s relationship with, and conditions affecting, NWR Plc’s or NWR NV’s customers; competition; railroad and other transportation performance and costs; availability of specialist and qualified workers; and weather conditions or catastrophic damage; risks relating to English, Czech or Polish law, regulations and taxation, including laws, regulations, decrees and decisions governing the coal mining industry, the environment and currency and exchange controls relating to English, Czech and Polish entities and their official interpretation by governmental and other regulatory bodies and by the courts; and risks relating to global economic conditions and the global economic environment.

Forward-looking statements are made only as of the date of this document. NWR Plc and NWR NV expressly disclaim any obligation or undertaking to release, publicly or otherwise, any updates or revisions to any forward-looking statement contained in this announcement to reflect any change in its expectations or any change in events, conditions, assumptions or circumstances on which any such statement is based unless so required by applicable law.

Publication on Website

 A copy of this announcement will be made available subject to certain restrictions relating to persons resident in Restricted Jurisdictions, at www.newworldresources.eu by no later than 17:00 (London time) / 18:00 (CET) on 21 September 2012.

 

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