Lemur Resources - Takeover Offer Closed

RNS Number : 3333W

Bushveld Minerals Limited

18 August 2015

 

18 August 2015

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Lemur Resources - Takeover Offer Closed

Bushveld Minerals (AIM: BMN), a diversified mineral development company with projects in Africa, this morning released an announcement on the Australian Stock Exchange ("ASX Announcement") with respect to its off-market takeover offer (the "Offer") for all of the ordinary shares in Lemur Resources ("Lemur") (ASX: LMR) which closed yesterday, 17 August 2015, at 7:00am (AESTI)

As announced on 3 August 2015, Bushveld intends to acquire the remaining Offer shares by way of a compulsory acquisition process under section 661A of the Corporations Act 2001 (Cth) and will lodge the necessary documentation in the coming days.

Commenting on the acquisition, Bushveld's CEO, Fortune Mojapelo, said: "The completion of this bid is an important milestone for Bushveld and Lemur shareholders. We thank everyone who has supported this bid, including but not limited to our financing parties and advisors. We will now proceed with the compulsory acquisition of the remaining shares and look forward to the next chapter in the development of the Bushveld story as we forge ahead with the Company's stated priorities, not least, our flagship Vanadium project in South Africa."

The full announcement can be viewed here:

http://www.asx.com.au/asxpdf/20150818/pdf/430l8dbz9w8m39.pdf

In addition, Bushveld notes the release of a Form 604 by Lemur Resources ("Lemur") on the Australian Stock Exchange ("ASX Announcement").

The ASX Announcement advises of a change of Bushveld's interest as a substantial shareholder of Lemur, from 93.78% of ordinary shares to 94.84%, pursuant to the Bushveld take-over bid currently underway. The announcement may be viewed in full here:

 http://www.asx.com.au/asxpdf/20150818/pdf/430l8bcgtz9kvm.pdf

Contact

For further information on Bushveld please visit http://www.bushveldminerals.com  or contact:

Bushveld Minerals Fortune Mojapelo	[phone]
Strand Hanson Limited Andrew Emmott / James Harris Warren Pearce / Scott McGregor	[phone] [phone]
Tavistock Jos Simson/ Nuala Gallagher	[phone]

- ENDS -

Notes to the editor

Bushveld Minerals Limited is a mineral development company with a portfolio of vanadium-and titanium bearing iron ore and tin assets in Southern Africa.

The Company owns the Bushveld Vanadium Project, Bushveld Iron Ore Project and Mokopane Tin Project, located on the northern limb of the Bushveld Complex, South Africa. In addition, Bushveld has a controlling interest in Lemur Resources (ASX: LMR), that owns the Imaloto coal project in Madagascar.

Bushveld was admitted to the AIM of the London Stock Exchange in March 2012.

 

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