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BRIEF-Brimstone says Sea Harvest entered into a bid implementation agreement with Mareterram

Published 08/04/2016, 10:23 pm
Updated 08/04/2016, 10:30 pm
© Reuters.  BRIEF-Brimstone says Sea Harvest entered into a bid implementation agreement with Mareterram

April 8 (Reuters) - Brimstone Investment Corporation Ltd BRTJ.J :

* Sea Harvest Holdings Proprietary Ltd has entered into a bid implementation agreement with Mareterram Ltd

* If all mareterram shareholders accept offer, Sea Harvest's shareholding in Mareterram will increase from 19.9 pct to approx 59.6 pct.

* All directors of Mareterram have indicated that they intend to accept offer

* Sea Harvest will pay a cash consideration to Mareterram shareholders up to a maximum of AU$19.7 million or about 225.4 million rand

* Consideration will be settled by Sea Harvest by way of shareholder funding from Brimstone Source text for Eikon: ID:nJseH0032a Further company coverage: BRTJ.J

(Bengaluru Newsroom: +91 80 6749 1136)

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