Just came across this, seems that when CEO went into trading halt today Hunnu also announces the following... Wonder if this is who the vendor was and why the delay.. Maybe they couldn't say until the sale of HUN was completed first?
Hunnu Coal (ASX: HUN) has reported that Thai listed coal miner Banpu's (SET: BANPU) all cash takeover offer for the company at $1.80 per share has been declared unconditional.
Banpu now holds 124,501,027 shares in Hunnu, representing a 50.18% stake in the company. Banpu also holds all of Hunnu's 28.3 million options.
The offer values Hunnu at $477 million. The offer price was pitched at a 30% premium to last closing price of Hunnu before a trading halt on halt on September 9.
Hunnu has built a JORC resource of over 843 million tonnes of coal resources across its tenements in Mongolia. The projects include coking and thermal coal deposits in the South Gobi and Middle Gobi Coal Provinces.
CEO Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held
