BRIEF-Brimstone's To Facilitate Exit From Participation In Clover Transaction

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BRIEF-Brimstone's To Facilitate Exit From Participation In Clover Transaction
Credit: © Reuters.

April 12 (Reuters) - Brimstone Investment Corporation Ltd BRTJ.J :

* JSE: BRT - BRN - UPDATE ON BRIMSTONE'S PARTICIPATION IN THE CLOVER TRANSACTION AND RENEWAL OF CAUTIONARY ANNOUNCEMENT

* BRIMSTONE - ENTERED INTO AGREEMENT WITH MILCO, INTERNATIONAL BEER BREWERIES TO FACILITATE CO'S EXIT FROM ITS PARTICIPATION IN CLOVER TRANSACTION

* BRIMSTONE INVESTMENT CORP - WILL NOT BE PARTICIPATING IN CLOVER TRANSACTION, NOTWITHSTANDING THAT IT MAY, FOR SOME TIME, HOLD INTEREST IN MILCO SA

* BRIMSTONE- IN ADVANCED NEGOTIATIONS WITH POTENTIAL REPLACEMENT B-BBEE SHAREHOLDER WHICH COULD RESULT IN CO EXITING HOLDING IN MILCO BEFORE DEC 31

* BRIMSTONE- SHARE OF TRANSACTION COSTS IN RELATION TO EXIT FROM CLOVER TRANSACTION NOT EXPECTED TO BE MATERIAL IN TO CO'S INTRINSIC NET ASSET VALUE

* BRIMSTONE INVESTMENT-IN PROCESS OF OBTAINING RULING FROM JSE ON REGULATORY IMPLICATIONS FROM A JSE LISTINGS REQUIREMENTS PERSPECTIVE OF EXIT FROM DEAL

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