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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Braemore Res | LSE:BRR | London | Ordinary Share | GB00B06GJQ01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.10 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number : 6051B
Braemore Resources PLC
29 October 2009
Not for release, publication or distribution, in whole or in part, in or into or
from any jurisdiction where to do so would constitute a violation of the
relevant laws or regulations of such jurisdiction.
29 October 2009 AIM: BRR / JSE: BRE
Recommended offer for Braemore Resources plc
by
Jubilee Platinum plc
Court order sanctioning scheme and confirming reduction of capital
Braemore Resources plc ("Braemore") announces that, at a hearing held earlier
today, the High Court of Justice in England and Wales sanctioned the Scheme of
Arrangement (the "Scheme") in relation to the recommended acquisition of
Braemore by Jubilee Platinum plc ("Jubilee"). The Court also confirmed the
reduction of share capital involved therein. This Scheme was approved by the
requisite majorities of Braemore Shareholders at the Court Meeting and the
General Meeting which were both held on 7 October 2009.
The Scheme is conditional on the delivery of an office copy of the Court Order
sanctioning the Scheme and confirming the reduction of capital being registered
with the Registrar of Companies in England and Wales. This is expected to be on
30 October 2009.
Trading in Braemore ordinary shares on AIM has been temporarily suspended. The
cancellation of admission of Braemore Shares to trading on AIM will take place
on the business day after the Scheme Effective Date. It is expected that such
cancellation will take effect at 7.00 a.m. on 2 November 2009. The last day to
trade in the Braemore Shares on the JSE will be the Scheme Effective Date and
the JSE has agreed to terminate the listing of Braemore Shares on the JSE with
effect from the commencement of business on 9 November 2009, or such later date
as may be requested by Braemore and approved by the JSE.
Capitalised terms used, but not defined, in this announcement have the same
meaning given to them in the circular posted to shareholders on 14 September
2009 (the "Scheme Document").
Expected timetable of principal events
+--------------------------------------------------------------+--------------------+
| Scheme Effective Date | 30 October 2009 |
| | |
+--------------------------------------------------------------+--------------------+
| Time of registration of the Court Order with the Registrar | 4.30 p.m. on |
| of Companies | 30 October 2009 |
| | |
+--------------------------------------------------------------+--------------------+
| Last Date to Trade in Braemore Shares on the JSE | 30 October 2009 |
| | |
+--------------------------------------------------------------+--------------------+
| Cancellation of admission of Braemore Shares to trading on | 7.00 a.m. on 2 |
| AIM | November 2009 |
| | |
+--------------------------------------------------------------+--------------------+
| Listing of New Jubilee Shares on AIM at commencement of | 2 November 2009 |
| trade | |
| | |
+--------------------------------------------------------------+--------------------+
| Listing of New Jubilee Shares on the JSE at commencement of | 2 November 2009 |
| trade | |
| | |
+--------------------------------------------------------------+--------------------+
| Suspension of trading of the Braemore Shares on the JSE at | 2 November 2009 |
| commencement of trade | |
| | |
+--------------------------------------------------------------+--------------------+
| CREST stock accounts credited with New Jubilee Shares in | 2 November 2009 |
| uncertificated form | |
| | |
+--------------------------------------------------------------+--------------------+
| JSE Record Date | 6 November 2009 |
| | |
+--------------------------------------------------------------+--------------------+
| Dematerialised Scheme Shareholders' accounts (held at their | 9 November 2009 |
| CSDP or broker) updated on or about | |
| | |
+--------------------------------------------------------------+--------------------+
| Date for dispatch of certificated New Jubilee Shares on the | 9 November 2009 |
| JSE on or about | |
| | |
+--------------------------------------------------------------+--------------------+
| Termination of listing of Braemore Shares on the JSE | Commencement of |
| | business on |
| | 9 November 2009 |
+--------------------------------------------------------------+--------------------+
| Latest date for dispatch of certificated New Jubilee Shares | 13 November 2009 |
| trading on AIM | |
| | |
+--------------------------------------------------------------+--------------------+
All references to times are to times in London (unless otherwise stated).
Enquiries:
+------------------------+---------------------------+-------------------------+
| Leon Coetzer | David Russell | Dennis Tucker |
| Braemore Resources plc | Braemore Resources plc | Qinisele Resources |
| Tel +27 (0)11 465 1913 | +61 (0) 416 377 157 | (Pty) Limited |
| | | Tel +27 (0) 82 492 4957 |
+------------------------+---------------------------+-------------------------+
| Sharon Owens / Brian | James Joyce | Nicola Taylor |
| Chistie | WH Ireland Limited | Russell and Associates |
| Sasfin Capital | Tel +44 (0) 207 220 1666 | Tel +27 (0) 11 880 3924 |
| Tel +27 (0) 11 809 | | |
| 7500 | | |
| | | |
+------------------------+---------------------------+-------------------------+
| Louise Goodeve / Leah | | |
| Kramer | | |
| Walbrook PR | | |
| Tel +44 (0) 207 933 | | |
| 8780 | | |
+------------------------+---------------------------+-------------------------+
+-------------------------+--------------------------------------------------------+
| Advisers to Braemore | |
+-------------------------+--------------------------------------------------------+
| Corporate adviser | Qinisele Resources (Pty) Limited |
+-------------------------+--------------------------------------------------------+
| Sponsor | Sasfin Capital (A division of Sasfin Bank Limited) |
+-------------------------+--------------------------------------------------------+
| Nominated adviser | WH Ireland Limited |
+-------------------------+--------------------------------------------------------+
| Independent adviser | Venmyn Rand (Pty) Limited |
+-------------------------+--------------------------------------------------------+
| Legal adviser in the UK | Watson, Farley & Williams LLP |
+-------------------------+--------------------------------------------------------+
| Legal adviser in South | Eversheds |
| Africa | |
+-------------------------+--------------------------------------------------------+
| Reporting accountants | Moore Stephens MWM Inc |
+-------------------------+--------------------------------------------------------+
| Auditors | BDO Stoy Haywood LLP |
+-------------------------+--------------------------------------------------------+
This announcement is not intended to, and does not constitute or form part of,
any offer to sell or an invitation to purchase or subscribe for any securities
pursuant to the Proposal or otherwise or the solicitation of any vote or
approval in any jurisdiction. Braemore Shareholders are advised to read
carefully the formal documentation in relation to the Proposal.
The availability of the Proposal to persons outside the United Kingdom might be
affected by the laws of other jurisdictions. Such persons should inform
themselves about, and observe any applicable requirements of, those
jurisdictions.
Copies of this announcement are not being, and must not be, directly or
indirectly mailed or otherwise forwarded, distributed or sent in or into any
jurisdiction where to do so would violate the laws of that jurisdiction and
persons receiving this announcement (including custodians, nominees and
trustees) must not mail or otherwise forward, distribute or otherwise send it
in, or into or from any such jurisdiction. Further details in relation to
overseas shareholders are contained in the Scheme Document.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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