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Brockman Mining Limited — M&A Activity 2011
May 4, 2011
48994_rns_2011-05-04_0def041e-6554-4f06-9d43-a0a2a450fc3a.pdf
M&A Activity
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ASX ANNOUNCEMENT
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Thursday 5 May 2011
Response to Wah Nam Announcement
FerrAus Limited (FerrAus) notes the announcement by Wah Nam International Holdings Limited (Wah Nam) that it intends to waive the 90 per cent minimum acceptance condition of its off-market takeover offer for FerrAus if it receives acceptances that result in Wah Nam holding a relevant interest in more than 50 per cent of FerrAus shares.
The Board notes that this move by Wah Nam aligns the offer for FerrAus with the offer for Brockman, which also has a 50 per cent minimum acceptance condition, and introduces less restrictive offer conditions, in part addressing one of the Board’s concerns in relation to the Wah Nam offer.
FerrAus is continuing to monitor and review Wah Nam’s offers for both FerrAus and Brockman and the Board may reconsider its recommendation in relation to the offer for FerrAus should circumstances change.
In particular, the level of acceptances for the Brockman offer is one of the important factors, as the Board considers there to be merit in combining the assets of FerrAus and Brockman. FerrAus will continue to update FerrAus shareholders and the market in relation to the Wah Nam offers as appropriate.
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Christopher Hunt
Company Secretary
Media Enquiries: Mitchell Hume Mobile: +61 (0)4 2253 4755
______________________________________________________________________________________________ Suite 10 100 Mill Point Road South Perth WA 6151 PO BOX 995 South Perth WA 6951 T: +61 (0) 8 9474 3770 F: + 61 (0) 8 9474 3700 E: [email protected] W: www.ferraus.com ABN 86 097 422 529