News: ORR Orecorp Intends On Recommending Shareholders Accept Amended Proposal From Perseus

March 20 (Reuters) - Orecorp Ltd (ORR) :

• ORECORP RECEIVES CONDITIONAL OFFER FROM PERSEUS TO INCREASE OFFER CONSIDERATION
• ORECORP HAS RECEIVED STATEMENTS OF INTENT FROM MAJOR ORECORP SHAREHOLDERS IN AGGREGATE HOLDING APPROXIMATELY 15.6% OF ORECORP SHARES
• RECEIVED STATEMENTS OF INTENT FROM MAJOR ORECORP SHAREHOLDERS IN AGGREGATE HOLDING APPROXIMATELY 15.6% OF ORECORP SHARES
• PERSEUS TO INCREASE OFFER CONSIDERATION UNDER ITS EXISTING OFF-MARKET TAKEOVER BID TO A$0.575 PER ORECORP SHARE
• ORECORP BOARD INTENDS ON RECOMMENDING THAT ORECORP SHAREHOLDERS ACCEPT AMENDED PROPOSAL IN ABSENCE OF A SUPERIOR PROPOSAL
• PROPOSAL TO INCREASE OFFER CONSIDERATION UNDER ITS EXISTING OFF-MARKET TAKEOVER BID TO A$0.575 PER ORECORP SHARE
• ORECORP HAS DETERMINED THAT AMENDED PROPOSAL IS A SUPERIOR PROPOSAL

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