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IRON BEAR RESOURCES LTD — M&A Activity 2010
May 13, 2010
65091_rns_2010-05-13_35baf369-5513-48f1-bbe3-c291dc6acf3d.pdf
M&A Activity
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14 May 2010
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TAKE NO ACTION with respect to the revised Cape Lambert Offer until DMC Directors provide a recommended course of action
Further to its announcement on 10 May 2010, West African iron ore explorer and developer, DMC Mining Limited ( ASX: DMM ) (“ DMC ” or the “ Company ”) wishes to advise Shareholders that they should continue to TAKE NO ACTION at this time with respect to Cape Lambert Resources Limited’s (“ Cape Lambert ”) revised unconditional takeover offer of $0.50 per DMC Share (“ Cape Lambert Offer ”).
DMC is currently in discussions with Meijin Energy Group Limited (“ Meijin ”) with respect to its competing conditional off-market takeover offer of $0.50 per DMC Share (“ Meijin Offer ”).
Until such time as those discussions are concluded, the DMC Board of Directors (“ DMC Directors ”) recommends that Shareholders TAKE NO ACTION at this time with respect to the Cape Lambert Offer.
The DMC Directors will provide Shareholders with a recommended course of action once discussions with Meijin are complete.
DMC Managing Director, David Sumich, noted “the DMC Directors consider it prudent to advise Shareholders to TAKE NO ACTION at this time with respect to the Cape Lambert Offer as discussions with Meijin on the Meijin Offer are still underway. We would like to highlight to Shareholders that the Cape Lambert Offer is open until 25 June 2010, so there is sufficient time to fully explore discussions with Meijin.”
If you have any questions regarding changes to the Cape Lambert Offer or Meijin Offer, please contact the DMC Shareholder Information Line on 1800 606 449 (from within Australia) or + 61 2 8256 3382 (from outside Australia).
For more information contact:
David Sumich Duncan St John Warrick Hazeldine Managing Director Vice president Director DMC Mining Ltd RBC Capital Markets Purple Communications Tel: +61 8 9486 1909 +61 2 9033 3307 +61 417 944 616 [email protected] [email protected] [email protected]
a Level 1, 2 Ord Street, West Perth 6005 pa PO Box 1191, West Perth 6872 p 08 9486 1909 f 08 9486 1718 dmcmining.com.au