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African Copper PLC: African Copper Announces Update on Interim Financial Statements and MD&A

^{Published on 2009-05-27 08:54:09, Last Modified on 2009-05-27 08:54:53 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - May 27, 2009) - African Copper Plc (the "Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER) announces that a temporary Cease Trade Order against the securities of the Company has been issued by the Ontario Securities Commission effective May 26, 2009 for failure by the Company to file its interim financial statements and related management discussion and analysis for the three-month period ended March 31, 2009 (the "Interim Materials"), as required by National Instrument 51-102 - Continuous Disclosure Obligations.

Further to the Company's press release issued on May 15, 2009, the Company is not eligible for a Management Cease Trade Order due to the delisting of the Company's shares from the Toronto Stock Exchange. As disclosed in the Company's press release dated May 20, 2009, the delisting of the Company's shares was a condition of the closing of the previously announced funding by Zambia Copper Investments Limited.

The Company is working to complete and file the Interim Materials as soon as possible and anticipates filing the Interim Materials on or before June 12, 2009.

The Company's shares will continue to trade on AIM, a market of the London Stock Exchange.

FORWARD-LOOKING INFORMATION

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes the expected timing for the completion and filing of the Interim Materials and the continued trading of the Company's shares on AIM. Although the Company believes that the assumptions (including that the Company will be able to complete the Interim Materials in a timely manner) and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.