Business
Elemental Minerals confirms receipt of Dingyi's Bidder's Statement and update on Dingyi Offer
PERTH , Australia , Aug. 28, 2013 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) (" El...
About this update from Element Lifestyle Retirement Inc.
[{"type":"text","content":"\n\n\nPERTH, Australia, Aug. 28, 2013 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) (\"Elemental\" or \"the Company\") is pleased to announce receipt of Dingyi Group Investment Limited's\n (\"Dingyi\") formal bidder's statement (Bidder's Statement) in respect of Dingyi's off-market takeover offer for 100% of the fully\n paid ordinary shares of Elemental at A$0.66 per share (the \"Dingyi Offer\").\n\n\nElemental understands the Bidder's Statement will be despatched by\n Dingyi to Elemental shareholders on 2 September 2013 at which stage the\n Dingyi Offer will be open for acceptance.  Elemental intends to issue\n and despatch its Target's Statement to Elemental shareholders shortly\n thereafter.\n\n\nAs a result of the previously announced delays in obtaining the required\n regulatory confirmations from the Hong Kong Stock Exchange, the parties\n have agreed to timetable amendments such that the Dingyi Offer is\n targeted to proceed in line with the indicative timetable set out\n below.\n\n\n\n\n\n\n \n \n\n\n\nCompletion of placement to Dingyi approved by shareholders on 14 August\n 2013\n\n\nOn or before 30 August 2013\n\n\n\n\nDingyi to despatch its bidder's statement to Elemental shareholders and\n Dingyi Offer opens\n\n\nBy 2 September 2013\n\n\n\n\nElemental to despatch its Target's Statement to Elemental shareholders\n\n\nSeptember 2013\n\n\n\n\nDingyi to despatch its circular in respect of the Dingyi shareholder\n meeting to approve the Dingyi Offer1\n\n\nOctober 2013\n\n\n\n\nDingyi shareholder meeting\n\n\nBy 31 October 2013\n\n\n\n\nOffer closes (unless extended)2\n\n\n21 November 2013\n\n\n\n\n\n\n\n\n\n1 \n\n\nThe target date for filing Dingyi's circular with the Hong Kong Stock\n exchange for review has been extended to 15 September 2013 (from 15\n August 2013). The existing right of termination arising from Dingyi not\n having received certain regulatory confirmations from the Hong Kong\n Stock Exchange by the previous deadline has been waived.\n\n\n\n\n2  \n\n\nThe Dingyi Offer will remain open for acceptance until the later of 21\n November 2013 and the date that is 21 days after the Dingyi shareholder\n meeting to approve the Dingyi Offer, subject always to the Dingyi\n shareholder approval condition not otherwise becoming incapable of\n being satisfied.\n\n\n\n\n\n\n\nTo facilitate th...