BRAEMAR PLC — M&A Activity 2014

Jun 27, 2014

National Storage Mechanism | Additional information

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RNS Number : 8047K

Braemar Shipping Services PLC

27 June 2014

27 June 2014

FOR IMMEDIATE RELEASE

RECOMMENDED MERGER OF

BRAEMAR SHIPPING SERVICES PLC ("BRAEMAR")

and

ACM SHIPPING GROUP PLC ("ACM")

to be effected by means of a Scheme of Arrangement

under Part 26 of the Companies Act 2006

UPDATE ON IRREVOCABLE UNDERTAKINGS

Following discussions with the Panel on Takeover and Mergers, Braemar announces that the irrevocable undertaking given by the directors of ACM in favour of Braemar to vote in favour of the Scheme at the ACM Court Meeting and to vote in favour of the ACM Special Resolution to be proposed at the ACM General Meeting contained, in paragraph 2.2, language that should not have been included.  Accordingly, the directors of ACM have agreed to enter into new irrevocable undertakings in favour of Braemar on substantially the same terms as the previous undertakings but with the exclusion of that language. The new irrevocable undertakings will be available to view on the ACM and Braemar websites at www.braemarplc.com and www.acmshippinggroup.com in due course.

Capitalised terms used in this announcement are, unless otherwise defined, as set out in the combined class 1 circular and prospectus posted by Braemar to its shareholders and to ACM's shareholders on 12 June 2014.

Enquiries:
Braemar Shipping Services Plc	+44 (0)20 7535 2650		ACM Shipping Group Plc	+44 (0)20 7484 6311
James Kidwell - Chief Executive Martin Beer - Group Finance Director			Johnny Plumbe - Executive Chairman Ian Hartley - Finance Director
Westhouse (financial adviser and corporate broker to Braemar)	+44 (0)20 7601 6100		Buchanan Communications (PR adviser to Braemar)	+44 (0)20 7466 5000
Robert Finlay Antonio Bossi			Charles Ryland Fiona Henson

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFRMITMBITBBI