Business
Possible Offer Update
Possible Offer Update.
About this update from Kazera Global Plc
[{"type":"text","content":"\n RNS Number : 8438K KazakhGold Group Ltd 29 December 2008 \n \nFOR IMMEDIATE RELEASE\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, THE RUSSIAN FEDERATION, CANADA, JAPAN OR ANY OTHER RESTRICTED JURISDICTION\n \n29 December 2008\n \nKAZAKHGOLDGROUP LIMITED\n \nPROPOSEDPARTIAL OFFER UPDATE\n \n \nFollowing the announcement on 29 September 2008, OJSC Polyus Gold (“Polyus Gold”) and KazakhGold Group Limited (“KazakhGold” or the “Company”) hereby announce that they have reached agreement on revised terms of a proposed partial offer to be made by Jenington International Inc (“Jenington”), an indirect wholly-owned subsidiary of Polyus Gold, to acquire 50.1 per cent. of the issued and to be issued share capital of KazakhGold (the “Proposed Partial Offer”).\n \nThe Board of KazakhGold has indicated that it is supportive of the Proposed Partial Offer and the Revised Terms, and its current intention is that, if the Proposed Partial Offer is made, it will unanimously recommend the Proposed Partial Offer.\n \nGold Lion Holdings Limited (“Gold Lion”) has indicated that it is supportive of the Proposed Partial Offer and the Revised Terms, and its current intention is that, if the Proposed Partial Offer is made, it will irrevocably undertake to accept the Proposed Partial Offer for its entire holding of 22,100,000 KazakhGold shares, representing in aggregate, approximately 41.7 per cent. of the existing issued ordinary share capital of KazakhGold. This announcement has been made with the agreement of Gold Lion.\n \nThis announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Takeover Code. Accordingly, there can be no certainty that an offer will ultimately be made and no certainty as to whether any offer will be made on the terms described herein, even if the Pre-conditions are satisfied or, if capable of waiver, waived.\n \n1. The Proposed Partial Offer\n \nThe Proposed Partial Offer is being made for such number of KazakhGold shares (which includes each KazakhGold share represented by a KazakhGold GDR) as shall amount to 50.1 per cent. of the issued and to be issued share capital of KazakhG...