OZL has offered to buy out IXR's share of Cairn Hills non-iron rights for $5m cash and cancellation of OZL's holding in IXR shares. In which IXR will place new shares for around $8m replacing the same amount of shares cancelled on OZL's holding, not diluting the interests of existing holders.
http://www.asx.com.au/asxpdf/20121119/pdf/42b8t0vvj4dk7w.pdf
I think this should of deal is good and a win win for both parties, as OZL never was interested in iron ore, thus takeover of IXR was never on the cards.
Hopefully if CUL can at least do a similar deal with AQA with this regard to the sale of Mt Stuart Iron JV.
OZL has offered to buy out IXR's share of Cairn Hills non-iron...
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Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.160M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.6¢ | 0.5¢ | $11.91K | 2.302M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 994013 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 3914481 | 4 |
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| Last trade - 13.23pm 03/10/2024 (20 minute delay) ? |
| CUL (ASX) Chart |