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Prosperity Minerals Holdings Ltd Updates On Recommended Cash Offer By Prosperity International Holdings (H.K.) Limited's Jetgo Development Limited

Tuesday, 3 Sep 2013 02:32am EDT 

On July 22, 2013, Jetgo Bidco announced its intention to make a recommended cash offer (the Offer) to acquire the entire issued and to be issued share capital of Prosperity Minerals Holdings Limited (PMHL), other than the PMHL Shares already held by Prosperity International Holdings (H.K.) Limited (PIHL), at the offer price of 130 pence per PMHL Share. The full terms and conditions of the Offer were set out in the offer document posted to the Independent Shareholders on August 12, 2013 (Offer Document). Jetgo Bidco also announced that each of the conditions to the Offer, as set out in the Offer Document, have been satisfied, and accordingly, the Offer is now declared unconditional in all respects. The Offer will now only remain open for acceptances until September 16, 2013. As on September 2, 2013 (being the first closing date of the Offer), Jetgo Bidco had received valid acceptances from Independent Shareholders in respect of 50,351,619 PMHL Shares, representing approximately 35.11 per cent. of PMHL's Issued Share Capital and 97.72% of the PMHL Shares which are the subject of the Offer. These acceptances include the irrevocable undertakings to accept (or procure the acceptance of) the Offer from certain Independent Shareholders in respect of 36,461,747 PMHL Shares, representing approximately 25.43% of PMHL's Issued Share Capital and 70.76% of the PMHL Shares which are the subject of the Offer, that Jetgo Bidco announced that it had received on August 5, 2013. 

Company Quote

-0.015 -4.23%
3:09am EDT