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Further Update on Separation Transaction

12th Feb 2014 14:12

RNS Number : 9188Z
Asia Resource Minerals PLC
12 February 2014
 



 

 

 

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.

 

- ENDS-

 

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

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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