News: NCZ Sibanye Stillwater Announces Off-Market Takeover Offer For New Century Resources Limited

Feb 21 (Reuters) - New Century Resources Ltd (NCZ) :

• OFF-MARKET TAKEOVER OFFER FOR NEW CENTURY RESOURCES LIMITED AT A$1.10 PER SHARE
• OFFER PRICE OF A$1.10 CASH PER SHARE REPRESENTS BEST AND FINAL PRICE THAT SIBANYE-STILLWATER IS WILLING TO OFFER
• CONCERNED ABOUT CHANGE IN STRATEGIC DIRECTION OF NEW CENTURY UNDER CURRENT MANAGEMENT
• FURTHER CONSIDERS THAT NEW CENTURY’S BALANCE SHEET IS UNDER STRAIN DUE TO AMORTISATION REQUIREMENTS
• NEW CENTURY MAY NEED TO RAISE ADDITIONAL EQUITY, WHICH COULD RESULT IN MATERIAL DILUTION FOR EXISTING SHAREHOLDERS
• RECENTLY BECOME AWARE NUMBER OF SHAREHOLDERS IN NEW CENTURY MAY BE LOOKING TO DISPOSE OF HOLDINGS ON MARKET
• SIBANYE AUSTRALIA INTENDS TO PLACE BUY ORDER ON ASX TO ACQUIRE 14.4 MILLION SHARES ON MARKET AT OR BELOW A PRICE OF A$1.10/SHARE