REDAURUM LIMITED ANNOUNCES TAKEOVER OFFER.TORONTO--(BUSINESS WIRE)--Aug. 8, 1995--Redaurum Limited (RRK-TSE) announced that it would make a takeover offer for all of the issued ordinary shares of Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. listed Auridiam Consolidated NL ("Auridiam"). Redaurum is a Canadian registered company listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. with a market capitalized value capitalized value n. anticipated earnings which are discounted (given a lower value) so that they represent a more realistic current value since projected earnings do not always turn out as favorably as expected or hoped. (fully diluted) of approximately A$72.1 million. Auridiam shareholders will be offered two Redaurum shares and A$0.70 cash for every four fully paid Auridiam shares. Based on Redaurum's current share price, the offer values Auridiam (fully diluted) at approximately A$51.8 million, or A$0.93 per share. The offer will have no minimum acceptance level. The offer represents a 35.5 per cent premium over the closing price on Friday, August 4 of Auridiam of A$0.69 based on Redaurum's closing price on Friday, August 4 of A$1.50 per share and assuming an exchange rate of A$1.00 equalling C$1.00. Redaurum and Auridiam are equal joint venture partners in the River Ranch diamond mine in Zimbabwe. Redaurum believes the acquisition of the remaining 50 per cent of the River Ranch mine will enhance the Company's position as an international diamond producer with a growing diamond property portfolio. The structure of the offer allows Auridiam shareholders to participate in the benefits arising from consolidating the ownership of the River Ranch mine and the development of Redaurum's other diamond mines at Quaggas Kop in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. and Kelsey Lake in the United State of America. It also provides the opportunity to realize some of their investment. Redaurum also has interests in diamond exploration projects in South Africa, Botswana, Namibia and Indonesia, in addition to its 50% Joint Venture ownership with Auridiam of an extensive diamond exploration program in Zimbabwe. The offer will be made by White Pointer Holdings (Australia) Limited ("White Pointer"), ARBN ARBN Australian Registered Body Number ARBN Asian Rice Biotechnology Network ARBN Australian Registered Business Number ARBN African Rice Blast Nursery (070 545 603), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Redaurum. White Pointer will issue formal takeover documents including a Part A Statement, as required under Australian Corporations Law. The documents will be lodged, in the next few weeks, with the Australian Securities Commission provided the takeover conditions to which the offer will be subject remain at that time capable of being fulfilled by the end of the relevant offer period. The offer for Auridiam will be subject to the following conditions: - approval from Australian and Canadian regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities that Reduarum considers necessary or desirable for the making, structuring and financing of the proposed offer and related transactions, including approvals from the Australian Securities Commission and the Trade Practices Commission and compliance with the Foreign Acquisitions and Takeover Act; - obtaining from the Australian Securities Commission such exemptions from or modifications of the Corporations Law as Redaurum considers necessary or desirable for the purposes of making the offer, in particular in relation to S.698 and S.111AT. The offer will not be made if such exemptions or modifications are not first obtained in a form acceptable to Redaurum and its advisors; - Auridiam's responding Part B Statement does not materially contradict con·tra·dict v. con·tra·dict·ed, con·tra·dict·ing, con·tra·dicts v.tr. 1. To assert or express the opposite of (a statement). 2. To deny the statement of. See Synonyms at deny. the disclosures in White Pointer's takeover documents; - no "prescribed occurrence" in relation to Auridiam and no material adverse change to Auridiam's trading or financial position occurring in the period between this announcement and the end of the relevant offer period; and - such other conditions as Redaurum or its advisors consider appropriate during the preparation of the takeover documents. Redaurum is being advised by Hambros Corporate Finance on the takeover. CONTACT: Hambros Corporate Finance David Williams David Williams is the name of: Musicians
(03) 9670 9626 bh (03) 9822 3623 ah Anthony Hamilton Anthony Hamilton may refer to:
44 171 610 6070 Michael Coulter, Toronto (416) 368-3553 Graham Roberts
Graham Roberts (October 10, 1929–October 28, 2004) was an English actor most famous for his work on BBC Radio 3 and BBC , London 44 171 865 1624 |
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