Business
Possible Offer - Replacement
Possible Offer - Replacement.
About this update from Kazera Global Plc
[{"type":"text","content":"\n RNS Number : 5360E KazakhGold Group Ltd 29 September 2008 \n \nThe following replaces the Possible Offer announcement released at 07.03am under RNS number 5071E.\n\nThe following paragraph was omitted from the original announcement;\n\n'The announcement of the Possible Partial Offer, if made, would be pre-conditional on the unanimous approval of the Board of KazakhGold and the approval of the Board of Polyus Gold. Polyus Gold reserves the right to waive, in whole or in part, any of the pre-conditions described above at its sole discretion.' \n\n\nThe full amended release appears below.\n\n\nNot for release, publication or distribution in whole or in part in, into or from the US, Canada, Australia or Japan\n\nKazakhGold Group Limited \n\nLSE: KZG\n\nPRESS RELEASE\n\n\n\n29 September 2008\n\nFurther to the possible offer announcement (the 'Possible Offer Announcement') released on 26 September, KazakhGold Group Limited ('KazakhGold' or the 'Company') can confirm further details of the approach received. The Company has been approached by OJSC Polyus Gold ('Polyus Gold') in connection with a possible partial offer by Polyus Gold (the 'Possible Partial Offer'), or a wholly owned subsidiary of Polyus Gold, for 50.1% of the issued and to be issued share capital of the Company (the 'Possible Partial Offer Shares'). \n\nThe Possible Partial Offer would be pre-conditional on the approval of the final structure by The Panel on Takeovers and Mergers (the 'Panel').\n\nUnder the terms of the Possible Partial Offer, if made, KazakhGold shareholders would be entitled to receive:\n\n\n\nFor each KazakhGold share:\n\n\n US$7.95 in cash; and\n \n 0.298 Polyus Gold ordinary shares (the 'Possible Partial Offer Terms').\n\nThe Possible Partial Offer Terms imply a value per Possible Partial Offer Share of US$ 14.73 (based on the closing price of a Polyus Gold share on MICEX of RUB 570.00 and a RUB/US$ exchange rate of 25.0703 taken from the Central Bank of Russia on 25 September 2008, the la...