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CRITICAL RESOURCES LIMITED — M&A Activity 2012
Aug 27, 2012
64708_rns_2012-08-27_fc61f854-8d89-48d3-9fbd-c03d275081f4.pdf
M&A Activity
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ASX Release 28[th] August 2012
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End of Offer Period in Relation to the Takeover Bid for Precious Metal Resources Limited
Sovereign Gold Company Limited ACN 145 184 667
Level 2, 131 Macquarie Street Sydney NSW 2000 Tel: +61 2 9251 7177 Fax: +61 2 9251 7500
Contact Michael Leu CEO
email: [email protected]
Latest News www.sovereigngold.com.au
Sovereign Gold Company Limited (Sovereign Gold) [ASX: SOC] advises that the off-market takeover offer for Precious Metal Resources Limited (PMR) [ASX: PMR] closed at 7.00 pm (Sydney time) on 27th August 2012.
As at the close of the offer, Sovereign Gold had acquired a relevant interest in approximately 81.26%[*] of PMR.
Sovereign Gold will issue 9 Sovereign Gold shares for every 10 PMR shares it acquired, resulting in the issue of 62,163,842[*] Sovereign Gold Shares.
Sovereign Gold’s relevant interest is below the 90% level that would entitle it to proceed to compulsory acquisition of the remaining ordinary shares in PMR.
Following allotment and issue of the consideration shares, Sovereign Gold will have 139,163,842[*] shares on issue.
Directors / Officers John Dawkins AO Michael Leu Peter Meers Jacob Rebek
A distribution schedule and list of the top twenty shareholders of Sovereign Gold will be provided as soon as it is available as required by LR 3.4.1.
For further information please contact
ASX Symbol: SOC
Sovereign Gold Company is exploring for large Intrusion-Related Gold Systems in New South Wales.
Henry Kinstlinger Sovereign Gold Company Limited
Telephone: +61 2 9251 7177
Sovereign Gold’s project area covers over 2,650 square kilometres.
The principal project is located around the township of Uralla, 21km southwest of Armidale, New South Wales, Australia, with superb infrastructure logistics. It is close to major roads, rail, airport, labour source, university, power, and engineering.
- Numbers are subject to final reconciliation and audit.
Available production records indicate that the Rocky River-Uralla Goldfield yielded 5,193 kg (approximately 167,000 ounces) of gold mostly from Tertiary deep leads during the period 1858-1967.
Sovereign Gold’s exploration objective is to locate the hard rock ore sources.