Press Releases

Manganese Bronze Holdings Plc posts prospectus for Chinese joint venture

22nd December 2006

Manganese Bronze Holdings plc, the leading manufacturer of the distinctive black taxi, is pleased to announce that it has today posted to shareholders a prospectus relating to its proposed joint venture with Chinese car manufacturer Geely Automobile Holdings Limited and its associates to produce the iconic London black taxi and other vehicles in Shanghai.  The prospectus also details the related issue of new Manganese Bronze ordinary shares to Geely.  The Joint Venture is conditional upon the approval of Manganese Bronze shareholders. 

The Prospectus contains a notice convening an Extraordinary General Meeting to approve the Joint Venture and the related issue of new ordinary shares. The Extraordinary General Meeting will be held at 11.00 am at the offices of Simmons & Simmons, City Point, One Ropemaker Street, London EC2Y 9SS on 10 January 2007.  The Form of Proxy accompanying the Prospectus for use at the Extraordinary General Meeting should be completed and returned, in accordance with the instructions printed on it, to the Registrars of the Manganese Bronze, Capita Registrars, The Registry, 34 Beckenham Road, Beckenham, Kent, England, BR3 4BR.  It should be received no later than 48 hours before the time of the Extraordinary General Meeting.  Completion and return of the Form of Proxy will not preclude a shareholder from attending and voting at the Extraordinary General Meeting in person.

The Board of Manganese Bronze, which has received financial advice in connection with the Joint Venture from RSM Robson Rhodes Corporate Finance, believes that the Joint Venture and the related issue of new ordinary shares in Manganese Bronze to Geely are in the best interests of the Company and its shareholders as a whole.  Accordingly, the Board of Manganese Bronze unanimously recommends shareholders to vote in favour of the resolution set out in the notice of Extraordinary General Meeting as the Directors of Manganese Bronze intend to do, or procure to be done, in respect of their own beneficial shareholdings.

Further details relating to the Joint Venture and relate issue of new ordinary shares to Geely is set out in the Prospectus. A copy of the Prospectus has been submitted to the UK Listing Authority, and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:

Financial Services Authority,
25 The North Colonnade,
Canary Wharf,
London E14 5HS
Telephone Number 020 7676 1000

For further information please contact:

Notes for Editors:
For further details on Geely please see www.geelyauto.com.uk and www.geely.com.

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