MONTREAL--(Marketwire -08/28/12)- La Mancha Resources Inc. (LMA.TO) ("La Mancha" or the "Company") announced today that 122,739,595 common shares (the "La Mancha Shares") of La Mancha representing approximately 86% of the outstanding La Mancha Shares on a fully diluted basis have been deposited into the offer by Weather Investments II S.A R.L. ("Weather II") and its indirect wholly-owned subsidiary 0944289 B.C. Ltd. (the "Offeror") to acquire all of the La Mancha Shares at a price of C$3.50 per La Mancha Share by way of a takeover bid (the "Offer").
All of the conditions of the Offer have been satisfied and the Offeror has taken up all such deposited shares and will pay for all such shares by August 29, 2012. Weather II and its affiliates now collectively own about 122,739,595 La Mancha Shares, representing approximately 86% of the outstanding La Mancha Shares on a fully diluted basis.
The Offer has also been extended to enable remaining La Mancha shareholders to receive prompt payment of C$3.50 (cash) per La Mancha Share. The Offeror will take up and pay for any La Mancha Shares validly tendered within three business days of such tender. The Offeror intends to acquire all La Mancha Shares not tendered to the Offer following its expiry pursuant to a compulsory acquisition or a subsequent acquisition transaction.
The Offer is now open for acceptance until 5:00 p.m. (Montreal time) on September 10, 2012 (the "Expiry Time"), unless the Offer is further extended. The Offeror expects to mail a formal notice of extension shortly.
About Weather Investments II S.A.R.L.
Weather Investments II S.A.R.L. is one of the many successful businesses managed by Mr. Naguib Sawiris. The wider Sawiris Family of Egypt have substantial indirect interests in existing operations in the telecoms, construction and fertilizers, cement, real estate and hotel development industries.
About La Mancha Resources Inc.
La Mancha Resources Inc. is an international Minerals is an international gold producer based in Canada with operations, development projects and exploration activities in Africa, Australia and Argentina. La Mancha's shares trade on the Toronto Stock Exchange (TSX) under the symbol "LMA". For more information, visit the Company's website at www.lamancha.ca
All amounts expressed in Canadian$ unless otherwise indicated
LA MANCHA ACKNOWLEDGES WEATHER II TAKEOVER OFFER SUCCESSFUL: http://hugin.info/145163/R/1636638/526003.pdf