http://www.tradingroom.com.au/apps/view_breaking_news_article.ac?...

http://www.tradingroom.com.au/apps/view_breaking_news_article.ac?page=/data/news_research/published/2010/3/71/catf_100312_122700_3548.html

"REY RESOURCES LTD (REY): Gujarat NRE Minerals Ltd (GNM) is offering for all the shares in the company. Consideration is 1 GNM share for every 5 REY shares held. GNM is currently not offering for any REY options. The offer has been amended to include an alternative cash consideration of 9 cents for every REY share held. The offer is now unconditional. FIRB approval has been received. Shareholders can choose between the all shares consideration or the alternative cash consideration. REY Directors continue to unanimously recommend shareholders reject the offer and intend to do likewise for their own shareholdings. GNM is now entitled to 11.998% of the voting power in REY. The offer is extended to remain open until 19 March 2010."

GNM 66c, so 66/5=13.3c