6 Feb 2018 07:00
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