On 3 September 2020, Nordgold lodged its Second Supplementary Bidder’s Statement1and announced, amongst other matters, that:
•Nordgold had increased its interest in Cardinal to 149,344,714 Cardinal Shares representing voting power of approximately 28.5%; and •Nordgold proposed to seek to enter into private arrangements with holders of certain of the Cardinal Options to acquire their Cardinal Options for the payment of an acquisition fee on the same terms as those offered by Shandong Gold.
Completion of the transactions contemplated under such arrangements would be conditional onobtaining all ASX approvals, confirmations or waivers necessary to undertake and effect the transactions without first obtaining shareholder approval; andoholders of relevant Cardinal Options being released from their arrangements with Shandong Gold, and not otherwise having dealt with their Cardinal Options.
On 5 September 2020, Shandong Gold advised Cardinal that it intended to increase the Offer Price of the Shandong Gold Offer to A$1.00 per Cardinal Share.
CDV Price at posting:
$1.03 Sentiment: Buy Disclosure: Held
obtaining all ASX approvals, confirmations or waivers necessary to undertake and effect the transactions without first obtaining shareholder approval; andoholders of relevant Cardinal Options being released from their arrangements with Shandong Gold, and not otherwise having dealt with their Cardinal Options.
