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BMR Group PLC (BMR)

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Tuesday 06 February, 2018

BMR Group PLC

Jubilee Notice to Proceed Toward Kabwe Agreements

RNS Number : 9836D
BMR Group PLC
06 February 2018
 

BMR Group PLC

("BMR", the "Group" or the "Company")

Jubilee Metals Group Plc ("Jubilee") notice to proceed toward Kabwe Zinc-Lead tailings agreements

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Further to the announcement dated 23 October 2017, BMR announces that it received notice yesterday from Jubilee that, following the conclusion of its review referred to in the earlier announcement, it now intends to negotiate the detailed terms of (i) joint venture and operating agreements with the Group in respect of the Kabwe operations and (ii)  the advance of up to a further GBP2.0 million of debt finance in return for up to a 40% interest in the enlarged voting rights of the Kabwe joint venture company.

Accordingly, BMR and Jubilee are now entering into detailed negotiations in respect of the various agreements and will make a further announcement when  those negotiations are concluded and the agreements (each of which will constitute a related party transaction in accordance with AIM Rule 13) are entered into.

For further information:

BMR Group PLC 020 7734 7282

Alex Borrelli, CEO and Chairman

WH Ireland Limited 020 7220 1666

NOMAD and Joint Broker

Chris Fielding/ Alex Bond

Peterhouse Corporate Finance 020 7469 0930

Joint Broker


This information is provided by RNS
The company news service from the London Stock Exchange
 
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