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Provider : Reuters Investment Profile
Provider : Wright Reports

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Continuation Investments Ltd Announces Intent To Reject Take Over Offer

Monday, 16 Sep 2013 08:10pm EDT 

Continuation Investments Ltd announced that on September 10, 2013 the directors of DMX Corporation Limited advised that there will be further delays in release of a supplementary Bidders' statement due to complex legal issues. The Company also announced that, including the Board of Directors, it has received written confirmation that shareholders controlling not less than approximately 72.3% of the capital of COT intend to reject the offer under the bid in full in the absence of a superior proposal. Accordingly, COT noted that based on the Bidders statement lodged August 12, 2013 with ASX, DMX cannot meet a key condition of obtaining a minimum 30% acceptance from shareholders with respect to the proposal. 

Company Quote

1 Sep 2015