Improved Offer Consideration and Fourth Supplementary Bidder's Statement
TGM has today varied its Offer by increasing its Offer Consideration from 2 New TGM Shares for every 1 Focus Share to 5 New TGM Shares for every 2 Focus Shares. This is equivalent to 2.5 New TGM Shares for every 1 Focus Share.
Further, TGM confirms that this improved Offer Consideration is now best and final and will not be increased unless there is a competing proposal.
The improved Offer Consideration will apply to all Focus Shareholders (who hold sharesto which the Offer relates) who accept TGM's Offer, including those Focus Shareholders who have already accepted the Offer.
Further details of the increase are set out in TGM's fourth supplementary bidder's statement dated
Extension of Offer Period
TGM has also extended the Offer Period for its takeover bid so that its Offer will remain open for acceptance until
A formal notice of variation under section 650D of the Corporations Act 2001 (Cth) (increasing the Offer Consideration and extending the Offer Period) was lodged with ASIC today and a copy is attached to this announcement. The formal notice, together with the fourth supplementary bidder's statement and an updated Acceptance Form, will be dispatched to Focus Shareholders as soon as practicable. Focus Shareholders can also continue to use the previous Acceptance Form.
TGM urges Focus Shareholders to ACCEPT without delay
TGM strongly encourages all Focus Shareholders (who hold shares to which the Offer relates) to ACCEPT TGM's unconditional Offer as soon as possible. The Offer is scheduled to close at
About
The Company aims to build a solid production platform to over 100Kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources.
Contact:
T: + 61 2 8046 7584
E: billg@thetagoldmines.com
Copyright (C) 2022 ABN Newswire. All rights reserved., source