CopperCo / Minsec merger - another step forward Mineral Securities Limited (AIM & ASX: MXX) advised the markets that CopperCo has lodged a Form 604, in regard to acceptances it has received from substantial shareholders, for its ongoing offer for Minsec shares. In this case the substantial shareholders include directors of Minsec who hold 36,007,562 or 21.02% of Minsec's shares in issue (22.89% excluding Treasury Shares which are due to be cancelled).
Minsec’s shares are trading today at 48p, which means that Copperco’s is at a premium of 15.8%. Thus it seems very likely that Minsec shareholders will accept the proposed merger deal which is nearing completion
For the background to this story see:
"Mineral Securities - an emerging mid-tier mining group, trading like a depressed junior" published on 15/7/08 on Proactive Investors UK website at http://www.proactiveinvestors.co.uk/art ... t.php?MXX3
The article is also published on Proactive Investors Australian Website at http://www.proactiveinvestors.com.au/co ... -0211.html
Register here for more articles on Mineral Securities Other articles 15/07/08 Mineral Securities - An emerging mid-tier mining group, trading like a depressed junior 20/03/08 Mineral Securities: another friendly merger
21/12/07 Mineral Securities: diversified investments reaping dividends
Other news 06/06/08 Mineral Securities extends merger deadline with CopperCo
16/05/08 Mineral Securities merger one step closer
15/04/08 Mineral Securities says independent expert values company at A$2.57 per share
19/02/08 Mineral Securities says merger highly complementary 01/02/08 Mineral Securities ends share purchase agreement 29/01/08 Minsec and CopperCo announce merger
21/12/07 Mineral Securities boosts stake in Tianshan 29/11/07 Mineral Securities Chairman outlines vision More news ?
MXX Price at posting:
0.0¢ Sentiment: None Disclosure: Held
