Lemur Resources - Compulsory Acquisition Notice

RNS Number : 8696U

Bushveld Minerals Limited

03 August 2015

 

03 August 2015

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Lemur Resources - Compulsory Acquisition Notice

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).

As at the close of business on 31 July 2015, Bushveld has a relevant interest in 91.37% of all of the ordinary shares in Lemur. Bushveld now intends to proceed with the compulsory acquisition of all of the remaining ordinary shares in Lemur that it does not already own.

Fortune Mojapelo, CEO of Bushveld Minerals, said:

"We are pleased to have reached the point at which Bushveld has fully aligned the interests of Lemur with that of the Company.

"Our efforts since the launch of the Offer for Lemur on 20 May 2015, leading up to the compulsory acquisition stage announced today, illustrate the important role Lemur is to play within our portfolio, and the strong belief Bushveld management holds with regards to the greater value we can realise from Lemur, under full ownership.

"We are grateful to all of our shareholders for their continued support throughout this process and look forward to implementing our stated objectives with Lemur."

Bushveld's ASX Announcement is available to view in full here:

http://www.asx.com.au/asxpdf/20150803/pdf/4308bx32bdqkqm.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]

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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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