16 FEBRUARY 2015
About
Board of Directors Mr Michael Walters Chairman
Mr Peter Cunningham
Managing Director
Jeremy Sinclair
Non-Executive Director
ASX: SRR
Capital Structure
Shares on issue: 904,982,273
Unlisted options: 60,983,333
Contact
Ground Floor, 1205 Hay Street
West Perth WA 6005
PO Box 1259
West Perth WA 6872
Telephone: +61 (08) 9226 4455
Facsimile: +61 (08) 9226 4255
Email: [email protected]
For more information about Shaw River or to join the electronic mailing list visit: www.shawriver.com.au
BRYVE EXERCISE ITS RIGHT TO ACQUIRE THE
REMAINDER OF ATLAS'S SHAREHOLDING IN SRR
Shaw River Manganese Limited (ASX:SRR, "Shaw River" or "Company") is pleased to announce that Bryve Resources Pty Ltd (Bryve) has decided to exercise its right, obtained as part of financing arrangements agreed in August 2014, to acquire the remainder of Atlas's (ASX: AGO) shareholding in SRR.
All conditions precedent has now been met. Shareholders of Shaw River, at the General Meeting held on 14 November 2014 unanimously approved of Bryve acquiring control of SRR as has the Namibian Competition Commission. (Please refer to SRR announcements dated 13 August 2014, 14 November 2014 and 9
January 2015 as well as AGO announcements dated 21 August 2014 and 13 February 2015).
As a result Bryve's shareholding in Shaw River will increase from
9.69% to 53.45%.
Shaw River Managing Director, Mr Peter Cunningham commented:
"The exercising by Bryve of its option to acquire the remaining
43.76% shares held by Atlas in Shaw River provides a clear message of Bryve's commitment and ongoing support of Shaw River and its current and future operations. This is an exciting event for the Company and will further assist Shaw River to realise the full potential and development of its flagship Otjozondu Project and other future projects
About Shaw River
Shaw River is a manganese-focused development and exploration company headquartered in Perth, Western Australia. The Company is targeting a low-cost, scalable start-up development of its flagship
100% owned Otjozondu Manganese Project in Namibia.