JOHANNESBURG, July 3 (Reuters) - Braemore Resources Plc:
* 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 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) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* 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 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) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.