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Cpl Resources plc Result of Tender Offer

Cpl Resources plc ("Cpl" or the "Company")

Result of Tender Offer

The Board of Cpl is pleased to announce the result of the Tender Offer described in the circular issued by the Company to its shareholders on 3 October 2011 (the "EGM Circular"). The Tender Offer closed on 1 November 2011 in accordance with its published timetable.

A total of 14,372,768 Ordinary Shares were validly tendered at the Tender Price pursuant to the Tender Offer which equates to approximately 38.6 per cent. of the 37,211,825 Ordinary Shares currently in issue.

The total number of Ordinary Shares to be purchased by the Company pursuant to the Tender Offer is 6,666,666 for a total consideration, before expenses, of approximately &euro20 million.

In accordance with the terms of the Tender Offer, Shareholders who validly tendered to sell less than or equal to approximately 17.915 per cent. of their shareholdings (their "Guaranteed Entitlement") will have their tender satisfied in full. Shareholders who validly tendered more than their Guaranteed Entitlement, will have their Guaranteed Entitlement satisfied in full and any Ordinary Shares tendered above their Guaranteed Entitlement will be scaled down (to the nearest whole number of Ordinary Shares) to approximately 8.679 per cent of their respective excess applications.

Ordinary Shares purchased under the Tender Offer will be cancelled by the Company. Following completion of the Tender Offer and cancellation of the validly tendered and accepted Ordinary Shares, the Company will have a total of 30,545,159 Ordinary Shares in issue.

It is anticipated that the crediting of CREST accounts (in the case of accepted tenders relating to Ordinary Shares in uncertificated form) and the despatch of consideration (in the case of accepted tenders relating to Ordinary Shares in certificated form) will occur by 16 November 2011. In addition, it is anticipated that CREST accounts will be credited for unsuccessfully tendered uncertificated Ordinary Shares by 7 November 2011, and that balance certificates will be issued, and share certificates for unsuccessfully tendered certificated Ordinary Shares will be returned, to Shareholders by 16 November 2011.


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