VANCOUVER, BC - January 29, 2010 - First Quantum Minerals Ltd. ("First Quantum", TSX Symbol "FM", LSE Symbol "FQM") and Kiwara PLC ("Kiwara", LSE AIM Symbol - "KIW", JSE Symbol "KWR") today announce that further to the news release dated 28 January 2010 regarding Court approval of the Reduction of Capital and sanctioning of the proposed scheme of arrangement pursuant to which First Quantum would acquire the entire issued share capital of Kiwara (the "Scheme"), the Scheme has now become effective in accordance with its terms and the acquisition has been completed.
The Court Order has been delivered to the Registrar of Companies in England and Wales today, 29 January 2010.
The final number of New First Quantum Shares to be issued pursuant to the Scheme will be announced on or about 8 February 2010. An application has been made to the London Stock Exchange plc for the New First Quantum Shares to be admitted to trading on the Official List. Furthermore, application has been made to the TSX for the New First Quantum Shares to be admitted to trading on the TSX. These shares will rank pari passu with First Quantum`s existing ordinary shares and it is expected that the New First Quantum Shares will be admitted to trading on the Official List and the TSX at 8.00 a.m. local time on 1 February 2010.
Trading in Kiwara Shares on AIM will be cancelled with effect from 7.00 a.m. on 1 February 2010. In accordance with the requirements of the JSE, t he listing of Kiwara Shares on the JSE is expected to terminate with effect on the commencement of business on 9 February 2010.
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 (the "Scheme Document").
Timetable
Effective Date of the Scheme
Friday 29 January 2010,1
Time of registration of the Court Order with the Registrar of Companies
4.30 p.m. on Friday 29 January 2010,1
Last Date to Trade in Kiwara Shares on the JSE
Friday 29 January 2010,1
Cancellation of admission of Kiwara Shares to trading on AIM
7.00 a.m. on Monday 1 February 2010,1
Suspension of trading of the Kiwara Shares on the JSE at commencement of trade
Monday 1 February 2010,1
Listing of New First Quantum Shares on the Official List at commencement of trade
Monday 1 February 2010,1
Listing of New First Quantum Shares on the TSX in respect of Kiwara shares on the UK Register at commencement of trade
Monday 1 February 2010,1
CREST stock accounts credited with new First Quantum Shares in uncertificated form
Monday 1 February 2010,1
JSE Record Date
Friday 5 February 2010
Latest date for dispatch of certificated New First Quantum Shares
Monday 8 February 20102,3
Latest date for dispatch of cheques
Monday 8 February 2010,1
First Quantum JSE Settlement Date
Monday 8 February 2010,1
Dematerialised Scheme Shareholders' accounts (held at their CSDP or broker) updated with the Cash Consideration on or about
Monday 8 February 2010,1
Termination of listing of Kiwara Shares on the JSE
9.00 a.m. on Tuesday 9 February 2010
All references in this news release to time are to UK times unless otherwise stated or the context requires otherwise.
1 Pending the dispatch of certificates for New First Quantum Shares to Kiwara shareholders on the UK Register, transfers of New First Quantum Shares in certificated form will be certified against First Quantum's share register. Temporary documents of title have not been and will not be issued in respect of New First Quantum Shares.
2 Shares recorded in the SA Register may not be dematerialised after 29 January 2010.
