LONDON, 30 September, 2010 – Panmure Gordon & Co, a leading institutional stockbroker and investment bank, is pleased to announce that it is acting as financial adviser, nominated adviser and broker to the board of Chromex Mining plc, on a recommended cash offer announced today for the company by Synergy Africa Limited.
Managing director of investment banking at Panmure Gordon, Dominic Morley, said: “We are delighted to act as adviser to our client, Chromex. This transaction demonstrates the continued strength of our M&A practice and highlights the growth of our natural resources franchise.”
Synergy Africa is a newly incorporated company, 51% owned by Ruukki Group plc and 49% owned by Kermas Limited, which has been established for the purposes of making the offer for Chromex.
The offer of 36.5p per Chromex share, valuing the company at £37m, represents a premium of 82.5% to the closing price of 20p per share on 14 July, the last business day prior to the commencement of the offer period.