🕐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 Anchor�s Target�s Statement dated 9 March 2011.


In relation to Jinshunda�s 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 People�s 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 Anchor�s 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)
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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



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