Braemar Seascope Group PLC
23 December 2004
For immediate release 23 December 2004
BRAEMAR SEASCOPE GROUP PLC ('Braemar' or the 'Company')
Statement re possible acquisition
The Board of Braemar is pleased to announce that the Company is currently in
exclusive negotiations, which may lead to the acquisition of Seawise Australia
Pty ('Seawise'), a privately owned shipbroking business based in Australia.
Whilst this acquisition would be small in scale and not require shareholder
approval, the Board believes it represents an important opportunity to extend
Braemar's presence in dry cargo and Asia. Should the acquisition proceed to
completion it is anticipated that the consideration will be satisfied by both
the issue of new ordinary shares to the vendors and cash from Braemar's own
existing resources.
A further announcement will be made in due course.
23 December 2004
For further information, contact:
Braemar Seascope Group plc
Alan Marsh Tel 020 7535 2650
James Kidwell Tel 020 7535 2881
Aquila Financial
Patrick d'Ancona Tel 020 7849 3326
Peter Reilly Tel 020 7849 3319
Charles Stanley & Company Limited
Philip Davies Tel 020 7953 2000
This information is provided by RNS
The company news service from the London Stock Exchange