I got an email from AustralianSuper today via the Member Direct...

I got an email from AustralianSuper today via the Member Direct update email, somehow there was misinformation sent out to shareholders where it mentioned $0.42 per share rather than $0.042 per share.

You are eligible to participate in the Takeover for KCN.AU through Member Direct. A Corporate Action is an event that causes a material change to a company and affects its shareholders somehow.
The details of the Corporate Action are as follows:
Kingsgate Consolidated Ltd (ASX Code: KCN.AU) announced that it received a proportional takeover offer from Northern Gulf Petroleum International Pte. Ltd. (NGPI) to acquire 50.1% of the shares held by KCN.AU shareholders. Under the offer, KCN.AU shareholders who accept the offer will receive a cash payment of $0.42 per share. If you wish to participate in the proposal, you must elect in full and make your election online on Member Direct by 31 October 2016. Cash proceeds will be paid into your Member Direct transaction account upon completion of the offer. For more information, you can access the company’s website atwww.kingsgate.com.au or the Announcements Section of the Australian Securities Exchange website atwww.asx.com.au.


I have sent back an email to them :-

Hi Australian Super,
I think there has been a grave mistake made with this email on KCN.
The takeover offer to existing shareholders is at a cut-price $0.042 per share, rather than $0.42 per share.
Can you please send a correction email out to all KCN shareholders???
This misinformation can severely affect the outcome of shareholders's decision.
Regards,




Please check your emails to see whether you get something similar and respond accordingly.