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IRON BEAR RESOURCES LTD — M&A Activity 2012
Jan 16, 2012
65091_rns_2012-01-16_5cb387b5-a303-46c9-abd1-ceee2c867e81.pdf
M&A Activity
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ASX Announcement 17 January 2012
Cape Lambert accepts Exxaro’s takeover offer for African Iron
Further to its announcement on 11 January 2012, Australian resources and investment company, Cape Lambert Resources Limited ( ASX: CFE ) (“Cape Lambert” or the “Company”) advises that pursuant to the pre-bid acceptance agreement between the Company and Exxaro Australia Iron Investments Pty Ltd, a wholly owned subsidiary of Exxaro Resources Limited, (“Exxaro Australia”), the Company has accepted the takeover offer by Exxaro Australia for the ordinary shares of African Iron Limited (ASX: AKI ) (“African Iron”) in respect of 100,315,473 shares in African Iron held by the Company (representing 19.99% of African Iron).
Subject to any superior offer being made for African Iron during the currency of the takeover offer by Exxaro Australia, the Company intends to accept the takeover offer by Exxaro Australia in respect of its remaining 26,384,527 African Iron shares.
As advised in its announcement on 11 January 2012, acceptance by the Company in respect of all African Iron shares held by the Company will generate proceeds of approximately A$72.2million (based on A$0.57 per African Iron share).
Yours faithfully
Cape Lambert Resources Limited
Cape Lambert is an Australian domiciled, mineral investment company. Its current investment portfolio is geographically diverse and consists of mineral assets and interests in mining and exploration companies.
The Company continues to focus on investment in early stage resource projects and companies, primarily in iron ore, copper and gold. Its “hands on” approach is geared to add value and position assets for development and/or sale.
The Board and management exhibit a strong track record of delivering shareholder value.
Australian Securities Exchange Code: CFE
Ordinary shares 688,108,792
Unlisted Options 8,800,000 ($0.45 exp 30 Nov 2012)
Board of Directors
Tony Sage Executive Chairman Tim Turner Non-executive Director Brian Maher Non-executive Director Ross Levin Non-executive Director Claire Tolcon Company Secretary
Key Projects and Interests
Tony Sage
Executive Chairman
Marampa Iron Ore Project Pinnacle Group Assets African Iron Limited International Goldfields Limited
Cape Lambert Contact
Tony Sage Executive Chairman
Eloise von Puttkammer Investor Relations
Phone: +61 8 9380 9555 Email: [email protected]
Australian Enquiries
Professional Public Relations David Tasker Phone: +61 8 9388 0944 Mobile: +61 433 112 936 Email: [email protected]
UK Enquiries
Tavistock Communications Emily Fenton / Jos Simson Phone: +44 (0)207 920 3150 Mobile: +44 (0)7899 870 450
Cape Lambert Resources Limited[ABN 71 095 047 920 ]
Corporate - 18 Oxford Close, Leederville WA 6007 Projects - Level 1, 2 Ord Street, West Perth WA 6005 United Kingdom - 14 Golden Square, London W1F 9JG