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African Copper Plc: African Copper Plc: Transfer and Demand for Repayment of Bonds

  //house-home.news-articles.net/content/2009/05/1 .. -transfer-and-demand-for-repayment-of-bonds.html
  Published in House and Home on Thursday, May 14th 2009 at 12:40 GMT, Last Modified on 2009-11-02 12:07:19 by Market Wire

LONDON, UNITED KINGDOM--(Marketwire - May 14, 2009) - African Copper Plc ("African Copper" or the "Company") (AIM:ACU)(TSX:ACU)(BOTSWANA:AFRICAN COPPER) -

It has come to the attention of the Company that during the course of today the Botswana Pula 150,000,000 bonds issued by its wholly owned subsidiary Messina Copper (Botswana) (Proprietary) Limited ("Messina") and held by Botswana institutions (the "Bonds") have been purchased by a third party. While the African Copper Directors cannot be certain of the identity of the new purchaser at this time, it is believed that the Bonds have been acquired by Natasa Mining Limited.

African Copper has today received a demand for the redemption of the Bonds calling for immediate repayment of the entire principal amount and accrued interest thereon. This demand alleges events of default of certain terms attached to the Bonds.

The Directors are seeking legal advice in relation to Messina's obligations.