"In order to enable Elemental and Dingyi time to negotiate and, if terms can be finalised, execute a definitive bid implementation agreement, the parties have agreed to a mutual extension of the exclusivity period to 31 May 2013. Commensurate with the extension of the exclusivity period, Pala Investments Limited together with John Ian Stalker and Fiducs Limited (an entity controlled by Mr Stalker) (the Supportive Shareholders) have agreed to an extension of their letters of intent with Dingyi until the earlier of signing a mutually agreed pre-bid agreement or 31 May 2013. Each Supportive Shareholder has authorised Elemental to include this paragraph in this announcement"
"Post quarter end, on 11 April 2013 Elemental announced that it has received an indicative, non-binding, incomplete and conditional proposal which, if it were to proceed to a formal offer, could result in an offer being made to acquire all of the outstanding shares in Elemental for a cash price of A$0.66 per share"
Then the sp will reflect the offer
K2P Price at posting:
43.5¢ Sentiment: ST Buy Disclosure: Held
