Acqn.of Interest Complet. etc
BRANCOTE HOLDINGS PLC
28 July 1999
BRANCOTE HOLDINGS PLC
Brancote Holdings PLC ('Brancote') announces that it has today
completed the acquisition of a further 10% of Minera El Desquite
SA ('MED'), taking its holding in MED to 60%. MED is the
operating company for Brancote's gold exploration project in
Argentina, where exciting drilling results have recently been
announced on the Cordon de Esquel concessions, in particular the
Galadriel vein systems. The acquisition will ensure that
Brancote has operational control over the project.
As consideration for the acquisition, 11,406,232 ordinary shares
of 5p each in Brancote have been allotted, credited as fully
paid. In addition Seymour Pierce, Brancote's nominated broker,
has placed 1,428,572 new Brancote shares to raise approximately
£400,000 for working capital. In both cases the issue price was
28p per share.
As a result of these share issues the following substantial
shareholders have increased their holdings to the totals as set
out below:
NAME SHAREHOLDING % OF TOTAL
The AIM Trust PLC 5,000,000 8.83
MSS Nominees - 346700 account 3,510,000 6.2
RLAM (Nominees) Limited - SPF account 3,050,888 5.39
Grand Concourse Corporation 3,529,000 6.23
Latour Trust Company Limited 7,129,360 12.59
Application has been made for the 12,834,804 new Brancote shares
to be dealt in on the Alternative Investment Market of the
London Stock Exchange, and dealings are expected to commence on
29 July 1999.
Contact numbers:
Richard Prickett (chairman of Brancote) 0171 493 1002
Bill Humphries (chief executive of Brancote)
Brian Moritz (Grant Thornton - nominated advisers) 0171 728 2367
Richard Feigen (Seymour Pierce - nominated brokers) 0171 648 8700
David Bick (Holborn Public Relations) 0171 929 5599
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