12th Feb 2014 14:12
12 February 2014
For Immediate Release
Asia Resource Minerals plc ("ARMS" or the "Company")
Further Update on Separation Transaction
Earlier today, ARMS announced that it has been informed by the Bakrie Group that it is not able to complete the Separation Transaction in accordance with the timetable as revised on 20 January 2014 and that the Bakrie Group has made a request for a further extension to the Separation Transaction timetable.
The Separation Transaction requires certain conditions precedent to be satisfied by today and without such satisfaction the Separation Transaction will terminate. The Bakrie Group has now informed the Company that these conditions will not be satisfied today but that it believes they can be satisfied by 19 February. The Company has therefore agreed to extend the date by which these conditions need to be satisfied to 19 February.
The deadline for Completion of 21 February remains unchanged although the Company notes that it may be necessary to extend this deadline by up to a week to allow time for the Separation Transaction's completion mechanics to be effected.
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For enquiries, please contact:
Asia Resource Minerals plc
Sean Wade +44 (0) 20 7201 7511 | RLM Finsbury
Ed Simpkins / Charles O'Brien +44 (0) 20 7251 3801 |
Related Shares:
ARMS.L