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ILUKA RESOURCES LIMITED M&A Activity 2002
65116_rns_2002-10-31_7354d9bd-1074-4e3c-bb1f-3595ca861f89.pdf
M&A Activity
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Date: 1 November 2002 Ref: SHR5
ILUKA RESOURCES LIMITED
To: Company Announcements Office Company: Australian Stock Exchange Fax No: 1300 300 021 Pages: $\overline{2}$
From: Ian Gregory Fax No: (08) 9221 7744 email: [email protected]
Subject: Completion of Acquisition of Basin Minerals Limited
Please find attached a notice advising of the completion of the compulsory acquisition of Basin Minerals Limited by Iluka Resources Limited.
021101 FAX ASX Basin Completion:leg:nm
ILUKA RESOURCES LIMITED
Notice to the Australian Stock Exchange
1 November 2002
COMPLETION OF ACQUISITION OF BASIN MINERALS LIMITED
On 29 May 2002, Iluka Resources Limited announced that it would make a takeover offer for all of the shares and all of the listed options in Basin Minerals Limited.
On 28 June 2002, Iluka lodged a bidder's statement with ASIC giving effect to its takeover bid. Iluka offered Basin Minerals shareholders the opportunity to accept \$2.10 per Basin Minerals share or 10 Iluka shares for every 23 Basin Minerals shares held (or a combination of these two forms of consideration). Iluka offered Basin Minerals listed optionholders \$1.85 per Basin Minerals listed option.
On 16 August 2002, Iluka's offers for all of the shares and listed options in Basin Minerals closed with Iluka having acquired 95.42% of all shares in Basin Minerals.
Iluka proceeded with the compulsory acquisition of all outstanding securities in Basin Minerals under the Corporations Act on 3 September 2002. On 22 October 2002, the compulsory acquisition process was completed and Iluka now holds 100% of the shares and options in Basin Minerals making Basin Minerals a whollyowned Iluka group company.
Under the takeover bid and the subsequent compulsory acquisition procedure conducted in accordance with the Corporations Act, Iluka paid a total of \$58.2 million and issued a total of 15.5 million Iluka shares in consideration for Basin Minerals securities.
IAN GREGORY Company Secretary Phone: (08) 9221 7611