Asa Resources Regulatory News (ASA)

12 Apr 2007 07:58

Mwana Africa PLC12 April 2007 Mwana Africa plc (the "Company" or "Mwana") Gravity Diamonds - Update on Mwana Offer Further to the announcements to ASX / AIM on 17 November 2006, 16 March 2007 and20 March 2007 concerning a proposal under which the Company would acquire all ofthe issued shares in Gravity Diamonds Limited ("Gravity"), the Company ispleased to announce that BHP Billiton has indicated to the Company that, in theabsence of any material developments affecting Gravity or Mwana, it will vote infavour of the scheme(s) of arrangement and, if approved, will elect to receiveMwana shares in consideration of the transfer to Mwana of the 14,240,184 sharesit holds in Gravity (representing 9.25% of Gravity's total issued shares) and,separately, to receive cash in respect of its 1,424,019 ASX listed options inGravity. As stated in the announcement dated 16 March 2007, the effective date of the merger is expected to be Monday 7 May 2007, after which there will be no tradingof Gravity's quoted securities. Mr. Oliver Baring, Mwana's Executive Chairman, commented that he welcomes BHP Billiton's decision and its indication of support for Mwana's offer. Enquiries: Oliver Baring, Executive Chairman Tel: 020 7654 5588Mwana Africa plc Tom Randell / Maria Suleymanova Tel: 020 7653 6620Merlin This information is provided by RNS The company news service from the London Stock Exchange