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Provider: Thomson Reuters Stock Report

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Laneway Resources Limited Announces Enitlement Offer Update

Tuesday, 11 Jun 2013 08:02pm EDT 

Laneway Resources Limited provided the following update in relation to the recently announced Entitlement Offer. On June 6, 2013 Laneway filed a Prospectus for an Entitlement Offer to its shareholders. ASIC has filed an application with the Takeovers Panel seeking orders that this Prospectus be withdrawn. ASIC seeks a final order under s657D(2) that the offer be withdrawn and the non-associated members of Laneway approve the conversion of debt to equity by Bizzell Nominees for the purposes of item 7 of s611. Laneway will be contesting ASIC’s application before the Takeovers Panel. The commencement date for renounceable rights trading and record date for the Entitlement Offer will be deferred until the earlier of: a) the Panel deciding not to conduct proceedings; or b) if the Panel decides to conduct proceedings, the determination of those proceedings.