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ORA BANDA MINING LTD — Capital/Financing Update 2016
Oct 9, 2016
65475_rns_2016-10-09_0523e0c9-49bb-4bd3-b00c-cd310e6c3660.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT ASX: WIN 10 OCTOBER 2016
CORPORATE DIRECTORY Executive Chair Bronwyn Barnes
Non-Executive Directors Stephen Lowe Stuart Fogarty George Cameron-Dow
Company Secretary Stephen Brockhurst
Eastern Goldfields withdraws from Funding Agreement with Windward
Highlights
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On 8 September Windward announced a funding agreement with Eastern Goldfields that was subject to shareholder approval
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On 5 October Windward announced a recommended all cash takeover offer of 19 cents per Windward share from Independence Group
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Formal notification received from Eastern Goldfields withdrawing from the funding agreement
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Windward released from its obligation to proceed with shareholder meeting
FAST FACTS
Issued Capital: 108m Options Issued: 1.2m Debt: Nil Cash (Approx.): $5.5m (as at 30 June 2016)
CONTACT DETAILS
Level 1, 8 Kings Park Road West Perth 6005
PO Box 599 West Perth 6872 E: [email protected]
T: +61 8 9321 6667 F: +61 8 9322 5940
ACN: 158 432 270
Windward Resources Limited ( Windward ) advises that it has received formal notification from Eastern Goldfields Limited ( Eastern Goldfields ) withdrawing from the funding agreement announced to the ASX on 8 September 2016 and releasing Windward from its obligation to hold a shareholder meeting.
Accordingly, no Windward shareholder meeting will be convened in relation to the proposed subscription by Eastern Goldfields.
As announced on 5 October 2016, Windward has entered into a Bid Implementation Agreement with Independence Group NL ( Independence ) pursuant to which Independence (or a subsidiary of Independence) has agreed to make an off-market takeover offer to acquire all of the issued shares of Windward at 19 cents cash per share (the Offer ).
Since the announcement of the Offer, Independence has acquired a relevant interest of 19.9% in Windward.
The Directors of Windward recommend shareholders accept the Independence Offer, in the absence of a superior proposal.
Windward Resources PCF Capital Group Media Bronwyn Barnes Darren Martin Paul Armstrong/Nicholas Read Executive Chair Executive Director Read Corporate +61 8 9 321 6667 +61 8 9486 7111 +61 8 9388 1474
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