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Jinchuan Group International Resources Co Ltd Announces Proposal To Acquire 100% Of Albidon Ltd


Wednesday, 27 Mar 2013 05:34pm EDT 

Albidon Ltd announced that Jin Tuo Investment Limited (Jin Tuo) a wholly owned subsidiary of Jinchuan Group (Hong Kong) Resources Holdings Limited has proposed to acquire 100% of the Company. The consideration proposed is USD0.0025 cash per Albidon share to all shareholders other than Jinchuan Group (Jinchuan) via a Statutory Merger (the merger) pursuant to the British Virgin Islands (BVI) Business Companies Act 2004 (as amended). As a result of the Jin Tuo proposal, Albidon has signed a legally binding, conditional Merger Implementation Agreement (MIA) with Jin Tuo for the acquisition of all of the outstanding fully-paid ordinary shares of Albidon not currently owned by Jinchuan by way of the Merger. Under the terms of the merger, Jin Tuo will pay USD0.0025 (one quarter of a cent) per Albidon share to all shareholders other than Jinchuan, which is the Company‚Äôs shareholder with 49.93% of the issued capital of the Company. Following the Merger, Albidon shares will no longer be listed on the Australian Securities Exchange (ASX) whilst Jin Tuo will be struck off the BVI Registrar of Corporate Affairs. 

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