Announced on Sky News
http://www.skynews.com.au/business/article.aspx?id=338967
The acting CEO of OZ Minerals has told Reuters that several of its shareholders have been approached to back a rival recapitalisation proposal.
Earlier today OZ responded to media speculation about the new recapitalisation proposal, reportedly involving RFC Group and RBS Capital Markets, saying it had not received a rescue-bid other than the one put forward by MinMetals.
Bruce Loveday says he believes a number of shareholders are being sounded out, but says many of those have already lodged proxy votes in favour of the MinMetals proposal.
The bid from the Chinese company offers to buy OZ's assets for around $1.5 billion.
The plan would involve $1.25 billion in new equity and convertible bonds, and another near $250 million in a working capital facility.
Shareholders are due to vote on the proposal next week.
http://www.skynews.com.au/business/article.aspx?id=338967
what happens to proxy votes, page-3
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