Cape Lambert shares suspended in Sydney pending Pilbara acquisition announcement

May 28, 2008

May 28 (Forbes) – Cape Lambert Iron Ore Ltd. said it has requested an immediate halt to trading of its shares on the Australian Stock Exchange, pending an announcement regarding China Metallurgical Group Corp’s proposed A$400 million acquisition of the company’s Pilbara iron ore project.

The sale, first announced in February, is dependent on a number of conditions, including approval by the Foreign Investment Review Board and the Chinese government.

The AIM-listed company said the trading halt will end June 2 or when the announcement is released to the market.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: