Watson, Farley & Williams, a leading international law firm, acted for Braemore Resource plc (“Braemore”) on the completion of the recommended offer by Jubilee Platinum plc (“Jubilee”) for the entire issued and to be issued share capital of Braemore. The offer was implemented by way of a scheme of arrangement under Part 26 of the Companies Act 2006, involving a capital reduction (the “Scheme”) and became effective on 30 October 2009. The terms of the offer allow Braemore shareholders to receive 1 new Jubilee share for every 15.818 scheme shares held.
Braemore is principally involved in evaluating, establishing and operating independent facilities for the roasting, smelting and refining of concentrates containing platinum group metals and associated base metals and for the reclamation and processing of sulphide nickel tailings. Diversified both geographically and in terms of product, Braemore is located in two key mining regions - Braemore Nickel in Western Australia and Braemore Platinum in South Africa.
Jubilee is a mining exploration and development company with a focus on platinum group elements and nickel/copper. Its prime asset in South Africa is the Tjate project, in which it has a 63 % beneficial interest.
This transaction was led by Jan Mellmann, partner and Head of the International Corporate Group in the London office who was assisted by Ravinder Sandhu.
Jan Mellmann, Head of the International Corporate Group of WFW comments: “We are delighted to have assisted Braemore and see them through the successful completion with Jubilee to create an emerging platinum producer in South Africa and potential nickel producer in Australia and Madagascar.”
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For further information, please contact:
Alexandra Quilici, PR Executive
London Office
Tel: 020 7814 8088
E-mail: aquilici@wfw.com
Editors Notes:
1. Watson, Farley & Williams is an international law firm with offices in London, New York, Paris, Hamburg, Munich, Rome, Milan, Athens, Piraeus, Singapore and Bangkok. The firm currently has 275 lawyers and over 500 staff.
2. Watson, Farley & Williams is a leading international law firm providing services of high quality and value to clients throughout a range of industry sectors, with particular focus on: Finance & Investment, Maritime, Energy, Natural Resources, Transport, Real Estate and ICT. Lawyers from our international offices work as integrated teams to provide practical, commercially focused legal services. Our locations allow us sufficient geographical spread to be competitive in the global market and to provide consistently high quality legal services to our clients.
All references to ‘Watson, Farley & Williams’ and ‘the firm’ in this document mean Watson, Farley & Williams LLP and/or its affiliated undertakings. Any reference to a 'partner' means a member of Watson, Farley & Williams LLP, or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent standing and qualification.