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.


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