Finder?s receives bidder?s statement on takeover offer
Tuesday, October 24 2017 - 01:40 AM WIB
ASX-listed Finder Resources Limited announced Tuesday it has received bidder?s statement from Eastern Field Developments in relation to the latter?s proposed off-market takeover offer for the former company.
Eastern Field, which is a special purpose vehicle jointly owned by Procap Partners Limited, IDX-listed investment firm PT Saratoga Investama Sedaya Tbk, and IDX-listed gold mining firm PT Merdeka Copper Gold Tbk, first unveiled the takeover offer on October 6.
?Finders has received Eastern Field's Bidder's Statement in respect of the offer. The bidder's statement is available on ASX,? Finders said in a statement.
The company said the offer is at a price of 23 cents cash per Finders share, and is subject to a number of conditions.
The company said the independent Finders directors reiterate their recommendation that Finders shareholders take no action in relation to the offer at this stage.
The independent Finders directors will evaluate the offer and Eastern field's bidder's statement and provide finders shareholders with a recommendation in due course.
Finders requests that the trading halt in respect of the company's securities be lifted, effective immediately.
Editing by Reiner Simanjuntak