Friday July 3, 10:57 AM
BRIEF-Jubilee Platinum offers to buy Braemore Resources
JOHANNESBURG, July 3 (Reuters) - Braemore Resources Plc (LSE: BRR.L - news) :
* Says firm intention by Jubilee to make an offer
to acquire the entire issued
and to be issued share capital of Braemore
* Says upon the scheme becoming effective, Braemore will become a wholly owned
subsidiary of Jubilee
* Says if scheme goes through its listing on the London stock exchange (LSE: LSE.L - news) and on
the Johannesburg stock exchange will be cancelled
* Says acquisition will create an enlarged mining group with its flagship tjate
platinum project containing a resource of 25 million ounces
* Says the merger will provide the tjate project with add-on smelting and
refining capability
* Says Jubilee will acquire Braemore shares via an all-equity transaction,
which involves the issue of 1 new Jubilee share for every 15.818 Braemore
shares
* Shares in Johannesburg jump more than 6 percent after company announces
takeover; Jubilee shares fall more than 9 percent
((Johannesburg newsroom, +27 11 775 3155))
(For more information, click on)
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