Inova Resources Limited: Shanxi Donghui Accelerates Payment Terms for Takeover Offer
11.11.2013 | Marketwire
Inova Shareholders recommended to Accept the OfferMELBOURNE, AUSTRALIA -- (Marketwired - Nov. 10, 2013) - Inova Resources Ltd. (TSX:IVA) (ASX:IVA) (Inova or the Company) advises shareholders that Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd (Shanxi Donghui) has announced an acceleration of the payment terms for shareholders who accept its takeover offer for all the shares in the Company at a price of A$0.22 per share (the Offer).
Shanxi Donghui has announced that Inova shareholders who accept the Offer by the closing date (7pm on 14 November 2013) will receive payment for their shares within 10 business days of 14 November.
Shanxi Donghui has received acceptances for approximately 67.08% of the Shares and has previously declared the Offer free from all conditions.
As detailed in the Target's Statement that was despatched on 27 September 2013, as the Offer is now unconditional, your Recommending Directors 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
+61 3 9090 8800
Stephen.Nossal@InovaResources.com
www.InovaResources.com
Media
Hintons
Tim Duncan
+61 3 9600 1979