- Release Date: 21/07/15 10:44
- Summary: GENERAL: CRP: Antipodes Transaction Update
- Price Sensitive: No
- Download Document 2.19KB
CRP 21/07/2015 10:44 GENERAL PRICE SENSITIVE REL: 1044 HRS Chatham Rock Phosphate Limited GENERAL: CRP: Antipodes Transaction Update 21 July 2015 NZX Market Announcement Attached is a market announcement from Aorere Resources Limited concerning the likely termination of its agreement for sale and purchase with Antipodes Gold Limited. As noted in the announcement Chatham Rock Phosphate and Antipodes Gold are in direct discussions with a view to still pursuing the proposed reverse takeover of Chatham Rock Phosphate. The outcome of these discussions will be advised to the market in due course. Chris Castle Chief Executive Officer [email protected] Aorere Resources Limited Announcement: 21 July 2015 NZX Market Announcement Antipodes Gold Transaction Aorere Resources (AOR) announced to the market on 2 April 2015 a conditional agreement (Agreement) to acquire certain gold joint venture interests from Antipodes Gold Limited (Antipodes). Included in the Agreement conditions was Antipodes obtaining counterparty consents to the proposed transaction. Critically this included working through a pre-emptive rights process with the joint venture partner - Newmont Mining Corporation (Newmont). Newmont has now advised Antipodes that it intends to exercise its pre-emptive rights and acquire the Antipodes joint venture interests. Accordingly it is likely this condition in the Agreement will not be satisfied and that the Agreement is now at an end. A further condition of the Agreement was for Antipodes to make a full takeover offer for Chatham Rock Phosphate Limited (CRP). AOR holds a significant investment in CRP. The purpose of the takeover was for CRP to assume Antipodes' listings on the Toronto Venture Exchange and the NZX Alternative Market to facilitate its phosphate investment diversification strategy. Pleasingly the intention to undertake this takeover remains and the CRP and Antipodes Boards are now in discussions directly to progress this transaction further. The AOR board supports such a transaction in principal believing it will give CRP a stronger platform for re-building value. Dene Biddlecombe Chairman Email: [email protected] End CA:00267211 For:CRP Type:GENERAL Time:2015-07-21 10:44:13
- Forums
- NZX - By Stock
- Ann: GENERAL: CRP: Antipodes Transaction Update
Ann: GENERAL: CRP: Antipodes Transaction Update
Featured News
Add CRP (NZSX) to my watchlist
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online