🕐29.10.10 - 07:27 Uhr
Kagara Takeover Bid Opportunistic!
Ladies and Gentlemen
Kagara Limited advised the Directors of Copper Strike on 12 October that it
intends to make a conditional takeover bid for all the shares in Copper
Strike at a price of 11c.
The formal offer is due next week after which
time, Copper Strike will have two weeks to respond.
The Directors believe that this is a highly opportunistic bid and recommend
that Shareholders take NO ACTION at this time.
We have formed a strong team to assist the Directors with their response
including professionals from SLM Corporate as our main advisors, Baker &
McKenzie as legal advisers, RSM Bird Cameron as independent accountants and
Mining One Consultants for independent technical advice.
The Directors will
provide formal advice to Shareholders in approximately two to three weeks.
I have attached a copy of our initial response to the ASX and also a copy of
the Quarterly Activities and Cashflow report which was released today.
As of Monday morning my views can be heard on boardroom radio by going to
www.brr.com.au and following the CSE link.
Regards
Tom Eadie
Managing Director
Copper Strike Limited
Level 9 - 356 Collins Street
Melbourne VIC 3000
Ph 0419 880333 or (03) 96400955
Facsimile (03) 96420698
ABN 16 108 398 983
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