🕐17.03.11 - 02:54 Uhr
Anchor Res. (AHR) - Update on Unsolicited Takeover Offer
Update on Unsolicited Takeover
THURSDAY, 17 MARCH 2011
Anchor Resources Ltd (ASX code: AHR) is pleased to provide the latest update
on its unsolicited takeover offer.
On 15 March, 2011, the bidder varied its off-market takeover offer such that
the period during which the offer will remain open has been extended by 14
days.
The offer will now close at 7:00pm (Sydney time) on 6 April 2011,
unless further extended.
Your Board reiterates its unanimous recommendation that shareholders REJECT
the current offer by TAKING NO ACTION for the reasons outlined in Anchors
Targets Statement dated 9 March 2011.
In relation to Jinshundas extension of the offer:
The offer remains subject to a minimum acceptance condition of at least
50%;
Since release of the attached announcement by Anchor, Jinshunda has
advised that it has achieved a relevant interest in Anchor of approximately
5.14% with only 72,622 shares received via the off-market bid; and
Since announcing the offer on 20 December 2010, Jinshunda has still not
received the approval required from the National Development and Reform
Commission of the Peoples Republic of China (PRC) to transfer funds from
PRC to Australia to satisfy the payment of acceptances received under the
Offer.
Also, Jinshunda is yet to apply for two further approvals required
from two separate PRC authorities.
Given the above, there can be no certainty that the Offer will become free
from defeating conditions by the new closing date of the Offer, being 6
April 2011.
For details of Anchors ASX releases, please refer to the pdf attachments or
visit our website.
For further information contact Anchor Resources Limited in Sydney on 02
9279 1231.
To be removed from the Anchor Resources distribution list please reply to
this message with unsubscribe in the title box.
Kind regards,
Trevor Woolfe
Managing Director
Anchor Resources Limited (ACN 122 751 419)
cid:image002.jpg@01CA5BAB.12D5FEF0
Office: Suite 505, 35 Lime St, Sydney, NSW 2000
Postal: PO Box H116, Sydney NSW 1215
Phone: +61 2 9279 1231
Fax: +61 2 9279 2727
www.anchorresources.com.au
Products & Services | Jobs
|