NZURI COPPER LIMITED (ASX.NZC)

delisted from the close of trading on Thursday, 12 March 2020, pursuant to Listing rule 17.11.

we understand Xuchen International Limited, a subsidiary of Chengtun Mining Group Co., Ltd was successful with an offer of $0.37 cash per NZC share

The scheme of arrangement between Nzuri and its shareholders that was approved by Nzuri shareholders on 19 August 2019, ratified by Nzuri shareholders on 20 February 2020, and approved by the Supreme Court of Western Australia on 27 February 2020 was implemented today. Nzuri shareholders have today been paid the scheme consideration of $0.37 for each Nzuri share held at 5pm (WST) on 4 March 2020.

The securities of Nzuri Copper Limited will be suspended from quotation at the close of trading today, Friday, 28 February 2020, in accordance with Listing Rule 17.2, following lodgement of the Supreme Court of Western Australia orders with the Australian Securities and Investments Commission approving the scheme of arrangement by which Xuchen International Limited, a subsidiary of Chengtun Mining Group Co., Ltd, will acquire all of the issued shares in NZC.

The suspension of trading in the securities of Nzuri Copper Limited will be lifted immediately, following the release by NZC of an announcement regarding a funding and scheme update.

Nzuri has agreed to extend the 'end date' for the Scheme as requested by Xuchen, to 31 March 2020. A key reason for Nzuri agreeing to this extension was Xuchen's agreement to amend its existing secured loan facility agreement with Nzuri. The next Court hearing for this matter is listed for 10.30am (AWST) on 13 December 2019 at the Supreme Court of Western Australia. At this hearing, Nzuri intends to seek an adjournment until on or about 3 February 2020. In light of the delay to the timetable, In light of the delay to the timetable, Nzuri requested additional information be provided by Xuchen to provide Nzuri with comfort that Xuchen will be in a position to complete the Scheme in accordance with the revised timetable. Nzuri has received a copy of a stamped letter from Chengtun Mining Group confirming that it has the financial ability to make the undertakings.

Nzuri requests the suspension remain in place until Nzuri makes an announcement to the market regarding the status of the scheme, which it expects to make by Friday, 6 December 2019.

The company releases the results of its meeting.

The company requests an extension of the suspension of its securities pending the release of an announcement regarding the status of the proposed scheme of arrangement, which the company expects to make by 3 December 2019.

PRC Regulatory Approval has not yet been received by Xuchen. Nzuri has also been advised by Xuchen that for commercial reasons, its preference is to fund the Scheme consideration by way of a third-party loan, which remains subject to the receipt of certain Chinese provincial government approvals. These approvals are expected to be taken between one to two months to be received. Xuchen has requested for the 'end date' for the Scheme to be delayed from 26 November 2019 to 31 March 2020, with the Approval Hearing to be on or about 3 February 2020, and implementation of the Scheme to occur on or about 14 February 2020. Nzuri remains in negotiations with Xuchen for the extension of the timetable as requested by Xuchen, as well as the provision of additional loan funding by Xuchen to Nzuri to accommodate the further delay. Nzuri requested the Court adjourn the Approval Hearing. The Court made orders adjourning the Approval Hearing until 10.30am (WST) on Friday, 13 December 2019.

The securities of Nzuri Copper Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of NZC, pending the release of an announcement regarding the status of the proposed scheme of arrangement.

The securities of Nzuri Copper Limited will be reinstated to official quotation immediately following the release of an announcement.

The company releases a presentation for the 121 Conference in Hong Kong.

The feasibility study for the porposed Stage 1 development of its flagship 85%-owned Kalongwe Copper-Cobalt Project has been completed, with the results confirming the project's strong financial and technical merits and highlighting the potential for a rapid pathway to production and cash flow.

The securities of Nzuri Copper Limited will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement.

name changed from Regal Resources Limited