ASX/MEDIA RELEASE
Update on Proposed Offer for Extract Resources
February 6, 2012: Extract Resources Ltd (ASX/TSX/NSX: EXT) ("Extract" or the "Company") notes the announcement by Taurus Mineral Limited ("Taurus") that it has received acceptances under its offer for Kalahari Minerals ("Kalahari") in respect of 89.5% of the existing issued share capital of Kalahari and declared the offer for Kalahari wholly unconditional.
Under the terms of the relief granted to Taurus by the Australian Securities and Investments Commission ("ASIC"), Taurus must now proceed with making the proposed all-cash A$8.65 per share takeover offer for Extract (the "Extract Offer") by no later than March 1, 2012. Once offer documentation (in the form of a Bidder's Statement) has been dispatched by Taurus to Extract shareholders, the Extract Offer must then remain open for a minimum of one month.
Under the terms of the ASIC relief, Taurus is also required to declare the Extract Offer free from any outstanding conditions by no later than February 16, 2012 in order to satisfy contracts under the offer for Kalahari.
Extract's Independent Directors intend to make a recommendation to shareholders once they have had an opportunity to review and evaluate the Taurus Bidder's Statement and there is an offer for Extract shareholders to consider.
In the meantime, shareholders are advised to take no action and await further guidance from the Extract Independent Directors, who are continuing to actively investigate whether there are any available alternatives that could maximise value for Extract shareholders.
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01265911
So we have to wait another 3 plus weeks to hear anything from EXT?
- Forums
- ASX - By Stock
- EXT
- update on proposed offer for extract resources
update on proposed offer for extract resources
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add EXT (ASX) to my watchlist
|
|||||
Last
1.0¢ |
Change
0.001(11.1%) |
Mkt cap ! $14.74M |
Open | High | Low | Value | Volume |
0.9¢ | 1.0¢ | 0.9¢ | $30.32K | 3.344M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 3326849 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 11732004 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 3326849 | 0.009 |
13 | 4898697 | 0.008 |
10 | 2675863 | 0.007 |
5 | 2018942 | 0.006 |
2 | 800000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 11732004 | 12 |
0.011 | 4800000 | 4 |
0.012 | 3038361 | 4 |
0.013 | 99423 | 2 |
0.014 | 71428 | 1 |
Last trade - 15.55pm 23/08/2024 (20 minute delay) ? |
EXT (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online