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Prosperity Minerals Holdings Ltd Announces Updates On Acquisition Of Remaining Interests In Prosperity International Holdings (H.K.) Limited


Monday, 22 Jul 2013 11:26am EDT 

Prosperity Minerals Holdings Ltd announced that they have reached agreement on the terms of a recommended cash offer by Jetgo Bidco, a wholly owned subsidiary of PIHL, for the entire issued and to be issued ordinary share capital of Prosperity International Holdings (H.K.) Limited (PMHL), other than those PMHL Shares already owned by PIHL and the Treasury Shares. The Offer is being made at a price of GBP1.30 in cash for each PMHL Share. The Offer Price represents a premium of approximately 65%. to the Closing Price of GBP0.79 per PMHL Share on the Business Day immediately preceding the Possible Offer Announcement Date; a premium of approximately 90per cent. to the average Closing Price of GBP0.686 per PMHL Share over the six month period to the Business Day immediately preceding the Possible Offer Announcement Date; a premium of approximately 94%. to the average Closing Price of GBP0.671 per PMHL Share over the twelve month period to the Business Day immediately preceding the Possible Offer Announcement Date; and a premium of approximately 65%. to the average Closing Price of GBP0.789 per PMHL Share over the twenty four month period to the Business Day immediately preceding the Possible Offer Announcement Date. The Offer Price also represents a premium of approximately 16%. to the Closing Price of GBP1.125 per PMHL Share on the Latest Practicable Date. 

Company Quote

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3:52am EDT