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Brockman Mining Limited — M&A Activity 2011
May 10, 2011
48994_rns_2011-05-10_19eb486c-f4f1-47c9-a787-f81b1331da28.pdf
M&A Activity
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ASX Stock Code: WNI
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11 May 2011
WAH NAM INTERNATIONAL HOLDINGS LIMITED (WNI) - BROCKMAN RESOURCES LIMITED (BRM)
ACCEPTANCES OF WAH NAM AUSTRALIA'S OFFER RISE SUBSTANTIALLY TO 45.39%
Wah Nam International Holdings Limited ( Wah Nam ) is pleased to announce it now holds a substantial 45.39%[1] shareholding in Brockman Resources Limited ( Brockman ).
Wah Nam's Chairman, Mr Peter Luk, said he was pleased with the strong level of acceptances.
"I am especially encouraged to see that a broad section of shareholders are responding positively to our offer now that we have gone unconditional. This represents welcome momentum, reflecting strengthening shareholder support for our takeover offer. Clearly, a large proportion of Brockman shareholders believe that the offer is in their interests."
"I encourage those shareholders who have not yet accepted, to do so as soon as possible", he said.
Wah Nam last week advised that the takeover offer was free of all defeating conditions, including the 50% minimum acceptance condition. In addition, it has now obtained permission for admission to quotation on the Hong Kong Stock Exchange of the consideration shares.
Wah Nam has also announced that Brockman shareholders who provide a valid acceptance for the offer will receive their consideration within 10 business days of their acceptance being processed. Brockman shareholders who accepted the offer before it was declared unconditional will be sent their consideration by 20 May 2011.
The offer is due to close on Monday, 16 May 2011, unless otherwise extended.
Chan Kam Kwan Jason Director Wah Nam International Holdings Limited
For media enquiries please contact:
Tim Duncan or Angus Urquhart, Hintons, (03) 9600 1979
1 Approximate shareholding as at 10 May 2011