Issue of Equity, etc.
Brancote Holdings PLC
15 June 2000
Date: 15 June 2000
Contacts: Richard Prickett, Chairman
Bill Humphries, Managing Director
Brancote Holdings PLC 020 7493 1002
William Staple
Benfield Advisory Limited 020 7578 7070
David Bick
Holborn Public Relations 020 7929 5599
david.bick@holbornpr.co.uk
BRANCOTE HOLDINGS PLC
Proposed Share Placing and Review of Strategic Options
On 8 June 2000 the board of Brancote Holdings PLC ('Brancote' or the
'Company') issued a progress report on the Company's gold exploration
programme in Argentina.
Further to that announcement, the board intends shortly to undertake a placing
of new ordinary shares in Brancote to finance the next phase of the
exploration programme, which is due to commence in September.
In the light of the significance of the drilling results and the potential
value of the mining concessions held by its subsidiary Minera el Desquite, the
board announces that it is now considering the various strategic options
available to the Company. These options include:
* carrying the project through development and to production;
* disposal of the Company's interest in one or all of the mining concessions;
* joint venture with a mining company for the future development of the
project; and
* an offer for Brancote or merger of Brancote by or with another mining
company.
Benfield Advisory Limited has been appointed by the Company and Minera el
Desquite to assist in the process of evaluating the various options.
It is emphasised that no offer for the Company has been received and
shareholders should note that the board intends to proceed with the next phase
of the exploration programme; hence they should not expect early clarification
of the review process.
Benfield Advisory Limited, which is regulated in the United Kingdom by the
Securities and Futures Authority Limited, is acting exclusively for Brancote
in relation to this announcement and for no-one else and will not be
responsible to any other person for providing protections afforded to
customers of Benfield Advisory Limited or for providing advice in relation to
this announcement or in relation to any transaction or arrangement referred to
herein.
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