Is the title of an article in today's Mining News and for obvious reasons, i shouldn't post it here.
The article starts off by:
It started off as a mismatch, but the spirited battle for Dioro Exploration has turned into a marathon. Now it is about to reach the end game.
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DIO holders are going to have to make a decision. Todays announcement by Ramelius that their offer is the only one open for acceptance.
Ramelius Chairman, Mr Robert Kennedy, said a do not accept
statement from Dioros independent directors in relation to the current
offer by Ramelius for all Dioro shares failed to take into account the fact
that the Ramelius offer was the only one open for acceptance.*
Ramelius Chairman, Mr Robert Kennedy, said a do not accept
statement from Dioros independent directors in relation to the current
offer by Ramelius for all Dioro shares failed to take into account the fact
that the Ramelius offer was the only one open for acceptance.
For instance, the Dioro directors are telling their shareholders that a
proposed new offer for their shares from Avoca Resources may be
superior to the current Ramelius offer, but there is no Avoca offer
currently open for them to accept, Mr Kennedy said.
We find it surprising that the independent directors of Dioro are
advising their Companys shareholders on the relative values of the
Ramelius and Avoca bids when Ramelius is the only company with an
open offer and the merits of the Avoca offer are still subject to the
findings of an independent valuation.
Ramelius which owns 37.1% of Dioros shares
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