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REDCASTLE RESOURCES LIMITED — Capital/Financing Update 2011
Oct 31, 2011
65668_rns_2011-10-31_a757a2e8-92c5-4f22-a1f5-8cf27ac56001.pdf
Capital/Financing Update
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GRP Corporation Limited
Level 2, Spectrum 100 Railway Road Subiaco WA 6008 Australia PH: 08 9367 8133 FX: 08 9367 8812 EM: [email protected] www.grpcorporation.com
1 November 2011
The Company Announcements Platform ASX Limited Company Announcements Office SYDNEY NSW 2000
Company Update
GRP Corporation Limited (the Company) wishes to advise that the share sale agreement ( SSA ) pursuant to which the Company agreed, subject to the satisfaction of a number of conditions precedent, to acquire Cady Energy Pty Ltd ( Cady )( Proposed Transaction ) has been terminated.
The Proposed Transaction was first announced by the Company on ASX on 4 March 2011. This announcement noted that completion of the Proposed Transaction was subject to the satisfaction of a number of conditions precedent, including that the Company is satisfied with the results of its due diligence investigations on Cady and its assets. The end date for satisfaction of the conditions precedent was 31 October 2011. As not all of the conditions precedent (including the due diligence condition) have been satisfied, the Company confirms that the SSA has automatically terminated and the Proposed Transaction will not proceed.
The directors of the Company will actively seek alternative acquisition or investment opportunities that have the potential to add value to the Company and its shareholders.
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Mark Rowbottam Non-Executive Chairman
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