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Oriel Resources plc Announces Compulsory Acquisition of Shares and Cancellation From AIM LONDON, UNITED KINGDOM--(MARKET WIRE)--Aug 20, 2008 -- Oriel Resources plc (Toronto:ORL.TO - News)(AIM: ORI) announces that
further to the takeover offer made on 26 March 2008 by Mechel
OAO ("Mechel") for the entire issued and to be issued share
capital of Oriel, Mechel has notified Oriel that it now
intends to exercise its right under section 979 of the Companies
Act 2006 to acquire the Oriel Shares held by the remaining
shareholders. A notice has been sent to all non-assenting
shareholders pursuant to section 980(1) of the Companies
Act 2006. A copy of this notice is also available at www.orielresources.com. Oriel announces that trading in its ordinary shares and warrants on AIM will be cancelled on or around 19 September 2008. Contact: Contacts:
Mechel OAO
Alexander Tolkach
Head of International Relations & Affairs Relations
+7 495 221 8888
Oriel Resources plc
Tania Tchedaeva
+44 (0) 20 7514 0590
Oriel Resources plc
Gavin Dallas
Investor Relations
+44 (0) 20 7514 0590
+44 (0)20 7514 0591 (FAX)
Email: info@orielresources.com
Website: http://www.orielresources.com
Canaccord Adams Limited
Ryan Gaffney
+44 (0) 20 7050 6500
Source: Oriel Resources plc
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