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ILUKA RESOURCES LIMITED — M&A Activity 2016
Sep 5, 2016
65116_rns_2016-09-05_096c2981-d458-47ba-bd1c-4afa0607a2cb.pdf
M&A Activity
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Australian Securities Exchange Notice
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6 September 2016
UPDATE IN RELATION TO SIERRA RUTILE LIMITED TRANSACTION
Iluka Resources Limited (" Iluka ") provides Iluka shareholders with this update regarding recent developments in relation to the proposed transaction with Sierra Rutile Limited (" SRL ") (the " Merger ").
SRL Shareholder Meeting
Iluka notes the announcement dated 1 September 2016 by SRL that the resolutions required to approve the Merger were passed by the requisite majority of SRL shareholders.
German Antitrust Clearance
As previously disclosed, the Merger is conditional on prior clearance of the German Antitrust Authority. On 5 September 2016, the German Antitrust Authority advised Iluka and SRL that it had decided to refer the Merger to a “Phase 2” review of the Merger, which can take up to 3 months. In accordance with the provisions of the Merger Implementation Agreement dated 31 July 2016 (the " MIA "), Iluka and SRL now have 5 business days to agree how to proceed in respect of the Phase 2 review. As referred to in the SRL Shareholder Circular dated 9 August 2016, if the parties are unable to reach agreement on how to proceed in respect of the Phase 2 review, either party may terminate the MIA.
Iluka will further provide further information to shareholders as soon as practicable.
Investment market and media inquiries:
Dr Robert Porter General Manager, Investor Relations Phone: + 61 (0) 3 9225 5008 Mobile: +61 (0) 407 391 829 Email: [email protected] Website: www.iluka.com
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Iluka Resources Limited • ABN 34 008 675 018 • Level 23 140 St Georges Terrace Perth WA 6000 GPO Box U1988 Perth WA 6845 • T +61 8 9360 4700 • F +61 8 9360 4777 • www.iluka.com