VANCOUVER, July 10 /CNW/ – Western Canadian Coal Corp (TSX: WTN, WTN.WT and WTN.DB and AIM: WTN)) (?Company? or ?Western?) is pleased to announce today the UK Court sanctioned, without modification, the scheme of arrangement covering the Company?s acquisition of Cambrian Mining Plc under section 899 of the UK Companies Act 2006 (?Scheme?).
The Scheme is expected to become effective upon an office copy of the Court Order sanctioning the Scheme being registered by the Registrar of Companies in England and Wales which is expected to be on 13 July 2009. Upon the Scheme becoming effective:
all Cambrian Shares (other than the Cambrian Share held by Western and the Treasury Shares) will be cancelled; and
0.75 New Western Shares will be issued to Cambrian Shareholders for every 1 Scheme Share held at the Scheme Record Time.
The Scheme Record Time was 6.00pm (UK) on 9 July 2009.
Cambrian has applied for the trading of its shares on AIM to be cancelled with effect from 7.00am (UK) on 14 July 2009.
Application for the New Western Shares to be admitted to trading on both the Toronto Stock Exchange (TSX) and AIM has been made and trading in these shares is expected to commence at the opening of the respective exchanges at market opening on 14 July 2009.
Any term used but not defined in this announcement is defined in the scheme document sent to shareholders of Cambrian on 26 May 2009 and available on Western?s website www.westerncanadiancoal.com.
For further information: Western Canadian Coal Corp: Western Canadian Coal Corp: David Jan, (604) 608-2692; Cenkos Securities plc, Ivonne Cantu, Adrian Hargrave, +44 20 7397 8900; Cambrian Mining Plc: Cambrian Mining Plc, Mark Burridge, Braam Jonker, +44 (0)20 7409 0890; Singer Capital Markets, Jeff Keating, +44 (0)20 3205 7500; Seymour Pierce, Mark Percy, +44 (0)20 7107 8000; Scott Harris, Stephen Scott, Ian Middleton, +44 (0)20 7653 0030