Ann: Hanking Australia - Offer Period Extended, page-3

* The Offer Period will now close at 7.00pm (AEST time) on Tuesday, 24 April 2018. HGM has NO INTENTION to extend the new closing date of the Offer, but reserves the right to do so.
* As at 7.00pm on 16 April 2018, the PGO Shares in which HGM has voting power (including as a result of acceptances of the Offer) was 80.07% of the PGO Shares.
* n addition, based on information received from Link Market Services (being HGM's share registry for the Offer) as at 4.30pm (AEST) today, HGM has received further acceptances which increases HGM's voting power in PGO Shares to approximately 83.94%.
* HGM will file a substantial holder notice prior to 9.30am on 18 April 2018 showing the definitive position as at 7.00pm on 17 April 2018.
* the Offer is now unconditional;
* all of the PGO directors have accepted the Offer for their PGO Shares; and
* HGM's ownership interest is well over 80%.

Remaining PGO Shareholders who do not accept the Offer before the new closing date risk being minority shareholders in PGO. This has a number of disadvantages including:
* PGO may be removed from the official list of ASX;
* even if PGO remains listed on ASX, the market price of PGO Shares is likely to fall significantly and the liquidity of PGO Shares is likely to be substantially reduced;
* HGM is already in a position to cast the majority of votes at a general meeting of PGO. This means that HGM is able to control the composition of the PGO Board of directors and senior management and strategic direction of the PGO business; and
* HGM is already in a position to propose and pass special resolutions of PGO. This will enable HGM to, among other things, change PGO's constitution.