Update on Mineral Deposits Limited’s takeover bid

ERAMET has a relevant interest in 14.23% of Mineral Deposits’ shares and 24.49% in acceptance instructions in the Institutional Acceptance Facility, the aggregate being 38.72% of Mineral Deposits’ shares.

Offer Price for MDL  is now unconditional and of A$1.75 per share is last and final, which provides Mineral Deposits Limited’s shareholders with cash certainty at a substantial premium of 59% to the one-month volume weighted average price of MDL shares prior to the announcement of the offer. Cash consideration is paid to accepting shareholders within 7 business days. Offer is due to close on July 13, 2018 at 7:00 pm.

ERAMET has previously declared the Offer Price of A$1.75 for MDL as final, and it will therefore not be increased, in the absence of any alternative or competing proposal in relation to MDL or TiZir, prior to the end of the Offer Period. The facility agent will now take the steps set out in the terms of the facility to cause the offers to be accepted in respect of the facility acceptance instructions as soon as possible.

As at 5 July 2018, ERAMET had received acceptance instructions in the institutional acceptance facility in respect of 24.49% of MDL shares and a relevant interest in 14.23% of Mineral Deposits’ shares. The MDL shareholders are expected to accept the offer as there is no reason to delay.

MDL traded at a market price of $1.740, as at July 05, 2018, and has seen a performance change of 148.19% over the past 12 months.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s