Australasian and RDI progress towards merger Friday , 31 Oct 2008
Australian iron ore company Australasian Resources Ltd ("Australasian") (ASX: ARH) wishes to advise that discussions and activities with Resource Development International Ltd ("RDI") regarding a merger of the two companies (ASX announcement 6 August 2008) are continuing in a positive and proactive manner.
Australasian understands that RDI is currently advancing its application for a listing on the Hong Kong Stock Exchange ("HKSE") and to this end is finalising all relevant legal and regulatory documentation, including the preparation of a Prospectus.
Upon completion of the Prospectus, Australasian and its advisors will receive all necessary information to enable a finalisation of a Scheme Booklet for lodgement with ASIC and the Court. The Scheme Booklet will be distributed to Shareholders following Court approval and will include information regarding a shareholder meeting.
Further information and timing regarding the merger will be advised when additional information is received from RDI.
ARH Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
HotCopper & The Market Online will be live From the Floor at the Mining News Select Conference and we want to bring the voice of our online audience to the show with us.