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GENESIS RESOURCES LIMITED — M&A Activity 2014
Mar 20, 2014
64980_rns_2014-03-20_f3a2fa43-2242-4f36-9d32-74c3a5bec413.pdf
M&A Activity
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GENESIS RESOURCES LIMITED
(ASX: GES)
ASX and Media Release
21 March 2014
Takeover bid by Blumont Group Ltd – Take No Action
Genesis Resources Limited ( Genesis ) today received a Bidder's Statement by Blumont Group Ltd ( Blumont ) for its off-market takeover bid for all the shares in Genesis.
The takeover bid was announced by both Blumont and Genesis on 24 January 2014 (see ASX announcement of that date) and is a highly conditional offer of 5.3 Blumont shares for every 2 Genesis shares.
While Genesis foreshadowed on 24 January 2014 that its directors would recommend acceptance of the offer in the absence of a superior proposal, it is essential that shareholders wait to receive and read Genesis' Target's Statement before taking any action .
It is important that shareholders understand the significance and timing of the conditions to the offer and all the risks associated with their decision before taking any action.
Genesis is being advised by Australian national law firm HWL Ebsworth.
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For further information, please contact:
Sophie Karzis Company Secretary T: +61 3 9286 7501 M: 0409 540 827 E: [email protected]
GENESIS RESOURCES LIMITED ACN 114 787 469 Level 1, 61 Spring Street, Melbourne, Victoria 3000, Australia T + 61 3 9286 7500 | F + 61 3 9662 1472 | www.genesisresourcesltd.com.au