Business
Further Investment
Further Investment.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n Templar Minerals Limited\n25 March 2008\n\n\n\n\n25 March 2008\n\n Templar Minerals Plc\n\n (\"Templar\" or the \"Company\")\n\n Agreement to purchase a further interest in River Diamonds Plc\n\n\nTemplar Minerals, which holds 26.18% of the issued share capital of River\nDiamonds Plc (\"River Diamonds\") notes the announcement made by River Diamonds\nregarding the Proposed acquisition of all the share capital of Viso Gero\nInternational, Inc. not held by River Diamonds (set out below), and the\napplication for re-admission of the enlarged share capital of the Company to\ntrading on AIM and Notice of General Meeting.\n\nTemplar has entered in to an irrevocable offer to purchase 143,290,000 River\nDiamonds ordinary shares that Viso Gero Global Inc will receive post the\nsuccessful general meeting of River Diamonds shareholders approving the\nacquisition of the balance of the Emperor Gold Mine in Fiji that River Diamonds\ndoes not already own (the \"Transaction\").\n\n\nThe purchase price is either:\n\n- GBP 8,597,400 being 143,290,000 River Diamonds shares at a price of 6 pence\n per share.\n\n- GBP 8,597,400 worth of free trading Templar Mineral Limited shares at an issue\n price of the average previous 30 days trading prior to the execution of the\n irrevocable offer letters (20 February 2008) minus a 3 per cent. discount to \n the closing mid-price on the date of execution of the letter.\n\n- A combination of cash and shares, at Templar's election.\n\n\nPayment of the purchase price will be made within 30 days of the successful\ngeneral meeting of River Diamonds approving the Fiji transaction.\n\nDavid Lenigas, Chairman of Templar, is to become an executive director of River\nDiamonds and will cease to be a non-executive director of the Company. In\naddition, Ian Stalker and Neil Herbert (respectively non-executive director and\nfinance director of Templar) will join the board of River Diamonds. Due to this\ncommonality of Directors, the Transaction is considered to be Related Party\nunder the AIM Rules. Accordingly, the Independent Directors, being Graham\nMascall, Paul Courtnage and Gordon Cassidy, having consulted with the Company's\nNominated Adviser consider that the terms of the transaction are fair and\nreasonable insofar as the Company's shareholders are concerned.\n\nTemplar has agreed with the Company, WH Ireland...