+ + data and comments + +, page-4

re: + + takeover offer for tir + + April 6, 2004:

From CSM:

"CSM expects that it will complete its due diligence on Titan on or before 5.00pm (WST) on 23 April 2004, at which point in time it will advise Titan of its intentions".
CSM cautions readers to not overestimate the likelihood of a bid being made.

(The text of the document is very poor and the reader is advised to read the File (5.2 MB) if he wants to certify the contents.

The document mentions that CSM has beneficial and relevant interests in 14.89% of TIR.


Offer of 1 CSM share and 36 cents cash for every 3 Titan shares held by a Titan. (At present, CSM=$1.18 and TIR =52 cents)

There are conditions attached.

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April 7: Response to sub shareholder notice lodged by CSM on April 6 (see above):
http://stocknessmonster.com/news-item?S=TIR&E=ASX&N=218186