CEN Shareholders encouraged to vote down Monument JV
Perth, June 20, 2013 AEST (ABN Newswire) - Rum Jungle Resources Limited (
ASX:RUM) advises that, as at 7pm on Wednesday 19 June 2013, it had not received acceptances under its takeover offer for Central Australian Phosphate Limited (ASX:CEN) for 50% of the CEN shares on issue. As at 9am on Thursday 20 June 2013, RUM had received acceptances under its takeover offer for CEN for 1.714% of the CEN shares on issue. RUM has not declared its takeover offer unconditional.
- RUM believes that its proposal to combine RUM and CEN under the takeover offer presents CEN shareholders with a significantly more attractive value proposition than the Monument Mining Limited ("Monument") joint venture proposal
- RUM encourages CEN shareholders to vote against the Monument joint venture proposal
RUM reiterates that its takeover offer for CEN will lapse due to breaches of its offer conditions if the resolution to approve entry into the Monument joint venture is passed at the CEN general meeting scheduled to be held on 26 June 2013 and RUM has not declared its takeover offer unconditional before that time. Subject to this, RUM will decide whether to waive or rely on the breaches of its offer conditions no later than the date for giving notice of status of conditions (currently 11 July 2013).
If CEN shareholders do not want the Monument joint venture to proceed, CEN shareholders should vote against the proposal at the CEN general meeting scheduled to be held on Wednesday, 26 June 2013.
If CEN shareholders have misplaced their Acceptance Forms or have any other questions relating to RUM's takeover offer, please contact the Offer Information Line: 1800 810 891 (within Australia) or +61 2 8256 3353 (outside Australia).
About Verdant Minerals Ltd
Verdant Minerals Ltd's (ASX:VRM) strategic intent is to create shareholder value through the discovery, development and operation of fertiliser and industrial mineral projects, located in close proximity to existing transport infrastructure, with a primary focus on the Northern Territory of Australia.
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