IVA-Takeover Offer Now Unconditional
01.11.2013 | Marketwire
- Shanxi Donghui declares Offer free from all conditions- Major shareholder accepts for all its Shares
- Shanxi Donghui has received 59.7% acceptances
- Inova Shareholders now recommended to Accept the Offer
MELBOURNE, AUSTRALIA -- (Marketwired - Oct. 31, 2013) - Inova Resources Limited (ASX:IVA)(TSX:IVA) (Inova or the Company) has received notice from Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd (Shanxi Donghui) that it has received acceptances for 59.7% of the Shares under its takeover offer for all the shares in the Company at a price of A$0.22 per share (the Offer), and has declared the Offer free from all conditions.
The Company's 56.1% majority shareholder, Turquoise Hill Resources Limited (Turquoise Hill), has advised the Company that it has accepted the Offer for all of the shares that it controls.
As detailed in the Target's Statement that was despatched on 27 September 2013, as the Offer is now unconditional and Turquoise Hill has accepted the Offer for all of its Shares, your Recommending Directors now recommend that you Accept the Offer as soon as possible.
The Offer will remain open until 7pm, Melbourne time on 14 November 2013, unless further extended by Shanxi Donghui.
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).
This information is available on our website: www.InovaResources.com
ABN 20 107 689 878
Contact
Inova Resources Limited
Stephen Nossal, Senior VP Corporate Development
Telephone: +61 3 9090 8800
Stephen.Nossal@InovaResources.com
www.InovaResources.com
Media
Nerida Mossop
Hintons
+61 3 9600 1979 or +61 437 361 433