Inova Resources Limited Releases Target's Statement
27.09.2013 | Marketwire
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICAMELBOURNE, AUSTRALIA -- (Marketwired - Sept. 26, 2013) - Inova Resources Limited (TSX:IVA)(ASX:IVA) (the Company) today announced that it has released its Target's Statement in response to Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd's (Shanxi Donghui) conditional takeover offer for all the shares in the Company at a price of A$0.22 per share (the Offer).
The Independent Board Committee consisting of Peter McMahon, Jim Askew and Kyle Wightman, together with the Managing Director, Robert Vassie (the Recommending Directors) recommend that at such time as the Offer has become unconditional and Turquoise Hill Resources Limited has accepted the Offer for all of its shares, then shareholders should accept the Offer, in the absence of a superior proposal.
The Target's Statement sets out the detailed reasons for the Recommending Directors' recommendation and shareholders are advised to review the full details of the recommendation in the Target's Statement.
The Target's Statement will be lodged with the Australian Securities Investment Commission and sent to Shanxi Donghui today. Shareholders should expect to receive a copy of the Target's Statement shortly. It is also available for download at www.inovaresources.com.
The Offer is open until 7.00pm (Melbourne time), 5.00am (Toronto time) on 14 October 2013 (unless extended) and remains conditional.
If required, shareholders are encouraged to seek financial and legal advice. For further information, shareholders are encouraged to contact the Inova Shareholder Information Line on 1300 551 547 (within Australia) and +61 1300 551 547 (outside of Australia). The line is available Monday to Friday between 8.30am and 5.30pm (AEST).
To view the Target's Statement, please visit the following link:
http://file.marketwire.com/release/inova0926ts.pdf.
ABN 20 107 689 878
Contact
Inova Resources Limited
Stephen Nossal, Senior VP Corporate Development
+61 3 9090 8800
Stephen.Nossal@InovaResources.com
www.InovaResources.com
Hintons
Nerida Mossop
Media
+61 3 9600 1979 or +61 437 361 433