Inova Resources Limited: Shanxi Donghui Receives Chinese NDRC Approval
17.10.2013 | Marketwire
MELBOURNE, AUSTRALIA -- (Marketwired - Oct. 16, 2013) - Inova Resources Limited (TSX:IVA) (ASX:IVA) (the Company) has received notice from Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd (Shanxi Donghui) that it has received unconditional approval from the Chinese National Development and Reform Commission (NDRC) for its conditional takeover offer for all the shares in the Company at a price of A$0.22 per share (the Offer).The Offer still remains conditional on certain other Chinese regulatory approvals, which Shanxi Donghui has indicated it is continuing to pursue, and other conditions as detailed in the Bidder's Statement. Inova Resources has not been informed that Turquoise Hill Resources Limited (Turquoise Hill) has accepted the Offer for all of its shares.
As detailed in the Target's Statement that was despatched on 27 September 2013, shareholders should note that the Recommending Directors recommend that at such time as the Offer has become unconditional and Turquoise Hill has accepted the Offer for all of its shares, then shareholders should accept the Offer, in the absence of a superior proposal. Until that time, shareholders are recommended to take no action.
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).
Contact
Inova Resources Limited
Stephen Nossal, Senior VP Corporate Development
+61 3 9090 8800
Stephen.Nossal@InovaResources.com
www.InovaResources.com
Media
Nerida Mossop
Hintons
+61 3 9600 1979 or +61 437 361 433