{"id":725,"date":"2011-12-09T12:21:05","date_gmt":"2011-12-09T01:21:05","guid":{"rendered":"http:\/\/www.australianuranium.com.au\/blog\/?p=725"},"modified":"2011-12-09T12:21:05","modified_gmt":"2011-12-09T01:21:05","slug":"extract-asx-ext-now-in-play-865-aud","status":"publish","type":"post","link":"https:\/\/www.australianuranium.com.au\/blog\/extract-asx-ext-now-in-play-865-aud\/","title":{"rendered":"Extract (ASX: EXT) now in play $8.65 AUD"},"content":{"rendered":"

December 9, 2011: Extract Resources Ltd (ASX\/TSX\/NSX: EXT) (“Extract” or \u201cthe Company\u201d) notes the announcement by Taurus Mineral Limited (\u201cTaurus\u201d), an entity
\nowned by CGNPC Uranium Resources Co., Ltd. (\u201cCGNPC-URC\u201d) and The China-Africa Development Fund (\u201cCADFund\u201d), of a recommended cash offer for Kalahari Minerals plc (“Kalahari”), Extract\u2019s 42.74% shareholder, at a price of 243.55 pence per Kalahari share (the \u201cKalahari Offer\u201d). The Taurus announcement includes a proposal to make a downstream cash offer to Extract shareholders of A$8.65 per Extract share<\/strong> (the \u201cExtract Offer\u201d), if Taurus receives acceptances of the Kalahari Offer in respect of more than 50% of the voting rights in Kalahari.<\/p>\n

Update: 11\/1\/2012<\/p>\n

Update Regarding Proposed Downstream Offer<\/strong> for Extract Resources<\/strong>
\nJanuary 11, 2012: Extract Resources Ltd (ASX\/TSX\/NSX: EXT) (“Extract” or the
\n\u201cCompany\u201d) has been informed that the Namibian Competition Commission (\u201cNCC\u201d) has
\napproved without conditions the possible acquisition of control of Extract by Taurus
\nMineral Limited (\u201cTaurus\u201d), an entity owned by CGNPC Uranium Resources Co., Ltd.
\n(\u201cCGNPC-URC\u201d) and the China-Africa Development Fund (\u201cCADFund\u201d).
\nNCC consent to the possible change of control of Extract is a condition of the Taurus offer
\nto Kalahari shareholders (the \u201cKalahari Offer\u201d), as set out in the offer document posted to
\nKalahari shareholders on January 5, 2012.
\nTaurus has been granted relief by the Australian Securities and Investments Commission
\n(\u201cASIC\u201d) to acquire an interest of more than 20% of Extract\u2019s shares provided that, among
\nother conditions, Taurus makes a downstream offer for Extract (the \u201cProposed Extract
\nOffer\u201d). Taurus is required to dispatch offer documentation to Extract shareholders within
\nfour weeks of Taurus having received acceptances of the Kalahari Offer in respect of
\nmore than 50% of the voting rights in Kalahari. The Proposed Extract Offer will only be
\nconditional upon Taurus becoming unconditionally entitled to shares carrying more than
\n50% of the voting rights in Kalahari, and standard prescribed occurrences as set out in the
\nCorporations Act not having occurred.
\nExtract\u2019s Independent Directors are continuing to review all available opportunities to
\nmaximise shareholder value, and intend to make a recommendation in relation to the
\nProposed Extract Offer if and when such an offer is made.<\/p>\n","protected":false},"excerpt":{"rendered":"

December 9, 2011: Extract Resources Ltd (ASX\/TSX\/NSX: EXT) (“Extract” or \u201cthe Company\u201d) notes the announcement by Taurus Mineral Limited (\u201cTaurus\u201d), an entity owned by CGNPC Uranium Resources Co., Ltd. (\u201cCGNPC-URC\u201d) and The China-Africa Development Fund (\u201cCADFund\u201d), of a recommended cash offer for Kalahari Minerals plc (“Kalahari”), Extract\u2019s 42.74% shareholder, at a price of 243.55 pence … Continue reading “Extract (ASX: EXT) now in play $8.65 AUD”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-725","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/posts\/725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/comments?post=725"}],"version-history":[{"count":0,"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/posts\/725\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/media?parent=725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/categories?post=725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.australianuranium.com.au\/blog\/wp-json\/wp\/v2\/tags?post=725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}