gindalbie shareholder melewar subject to opes

Sydney - Wednesday - April 2: (RWE Aust Business News) -
Gindalbie Metals (ASX:GBG) said substantial shareholder, Melewar Steel
Ventures Ltd, has a portion of its shareholding subject to an equity
finance contract with Opes Prime Stockbroking.
Under the terms of Melewar's equity finance contract with Opes,
Gindalbie understands that the receiver believes it has the right to sell
those shares and it is currently exercising those rights.
Gindalbie has been informed by the receiver that approximately 32
million Gindalbie shares, representing 6.2 per cent of issued capital
previously held by Melewar, are in the hands of three stockbroking firms,
Goldman Sachs JBWere, Merrill Lynch and Dresdner,
The ownership of a further 0.6pc remains unclear and Melewar is
considering its rights in respect of its position.
Gindalbie has been actively facilitating interested parties to
acquire all of the shares and has received strong demand.
Melewar, which has been a substantial shareholder of Gindalbie
since 2004, still holds a 7.6pc stake in the company which is not subject
to the facility and has indicated its intention to retain those shares.