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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Thomson Reuters Stock Report

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Rum Jungle Resources Ltd Announces Takeover Offer for Central Australian Phosphate Limited

Tuesday, 12 Feb 2013 09:21pm EST 

Rum Jungle Resources Ltd announced that it intends to make an off-market takeover offer to acquire all of the shares in Central Australian Phosphate Limited (CEN). Under the terms of the Offer, Rum Jungle Resources will offer 1 (one) Rum Jungle Resources share plus AUD 0.20 cash for every 20 Central Australian Phosphate shares. The Offer implies a value of approximately AUD 12.7 million for CEN, or AUD 0.0215 per Central Australian Phosphate share. The Offer represents an attractive premium of: 43.3% to the closing price of Central Australian Phosphate shares on February 12, 2013, 34.4% to the price of the recent rights issue and 35.3% to the one-month VWAP of Central Australian Phosphate shares. The Offer provides an opportunity for CEN shareholders to monetise a substantial portion of their value in cash, and to participate in the potential value of the combined company. 

Company Quote

-0.0020 -2.63%
24 Oct 2014