BRR Braemore Res

RNS No 5997p
BARRASFORD HOLDINGS PLC
8th September 1998


                             Gander Holdings PLC
                                      
           Offer for Barrasford Holdings PLC wholly unconditional
                                      
Gander Holdings PLC ("Gander") announces that, as at 3.00pm on 7 September
1998, it had received valid acceptances to the offer for Barrasford Holdings
PLC ("Barrasford") in respect of 243,540,604 Barrasford ordinary shares,
representing 89.97 per cent. of Barrasford's issued ordinary share capital.
All of the remaining conditions of the offer having been satisfied or waived,
the board of Gander has declared the offer unconditional in all respects,
subject to the admission of the new Gander ordinary shares to the Official
List expected to become effective on 9 September 1998. The offer will remain
open for acceptance until further notice.

In addition, subscriptions have been received in respect of 28,260,000
Barrasford warrants to convert into 28,260,000 Barrasford ordinary shares,
along with acceptances of the offer. These 28,260,000 Barrasford warrants
represent 93.89 per cent. of Barrasford warrants in issue. When aggregated
with the valid acceptances of the offer referred to above, total acceptances
of the offer represent 90.36 per cent. of Barrasford's fully diluted ordinary
share capital.

Prior to the commencement of the offer period, the directors of Gander and
Christopher James, the proposed Operations Director of Gander, had beneficial
holdings in Barrasford ordinary shares of 51,322,219 (representing
approximately 19 per cent. of Barrasford's issued ordinary share capital) and
in Barrasford warrants of 20,800,000 (representing approximately 69 per cent.
of Barrasford warrants).

Save as disclosed above neither Gander nor the directors of Gander nor
Christopher James, nor anyone acting in concert with them, held any
Barrasford shares or warrants before the commencement of the offer period,
nor has any such person either acquired or agreed to acquire any Barrasford
ordinary shares or warrants since then.

Enquiries:                                                                    
                                                                             
Gander Holdings PLC            Oliver Vaughan             0171 937 4445
                               Adrian Graham                                  

                                                                              

HSBC Investment Bank plc       Jonathan Gray              0171 336 9000
                               Steven Cooklin                                 

                                                                              

Charles Stanley & Co. Limited  Robin Dunham               0171 739 8200
                                                                              

College Hill                   Kate Pope                  0171 457 2020
                                                                              


HSBC Investment Bank plc, which is regulated by The Securities and Futures
Authority Limited, is acting for Gander Holdings PLC and no one else in
connection with the offer and will not be responsible to anyone other than
Gander Holdings PLC for providing the protections afforded to customers of
HSBC Investment Bank plc nor for providing advice in relation to the offer.

Charles Stanley & Co. Limited, which is regulated by The Securities and
Futures Authority Limited, is acting for Barrasford Holdings PLC and no one
else in connection with the offer and will not be responsible to anyone other
than Barrasford Holdings PLC for providing the protections afforded to
customers of Charles Stanley & Co. Limited nor for providing advice in
relation to the offer.


END


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