TAWANA RESOURCES NL - Merger UpdateRelease Date: 12/06/2018 08:40:00 Code(s): TAW PDF(s):
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
JSE ISIN: AU0000TAWDA9
Share code on the Australian Securities Exchange Limited: TAW
ASX ISIN: AU000000TAW7
(“the Company” or “Tawana”)
Tawana Resources NL (ASX:TAW) (Tawana or the Company) is pleased to provide
the following update on the proposed merger of equals (Merger) between Tawana
and Alliance Mineral Assets Limited (SGX: 40F) (Alliance) as announced on 5 April
2018, whereby, subject to all necessary approvals, Alliance will acquire all of the
issued shares of Tawana for consideration of 1.10 Alliance Shares per Tawana
- Alliance has received a ‘no objection’ ruling from the Singapore Exchange
Securities Trading Limited (SGX-ST) in response to its application for a waiver
from compliance with Catalist Rule 1015 in respect to the proposed Merger
(Waiver). The Waiver results in a more streamlined timetable for the Merger
with the result that Tawana and Alliance are now working towards the
following indicative timetable:
Lodge Scheme Booklet with ASIC 2 July 2018
First Court hearing date 20 July 2018
Printing and despatch of Scheme Booklet 24 July 2018
Alliance shareholder meeting 21 August 2018
Scheme Meeting of Tawana shareholders 23 August 2018
Second Court hearing date 29 August 2018
Lodge Court order with ASIC 30 August 2018
Record Date 6 September 2018
Implementation Date 13 September 2018
Alliance listing on ASX Official List 14 September 2018
*This timetable remains indicative only, and is subject to change (including in
relation to Court dates).
- Alliance has received a notice of “no objection” to the Merger from the
Australian Treasurer. This satisfies the “FIRB approval” condition in the
Scheme Implementation Agreement between Tawana and Alliance.
- Tawana is currently preparing the Scheme Booklet, which is expected to be
provided for ASIC review near the start of July 2018 and be available for
despatch to Tawana shareholders in late July 2018.
- Alliance’s general meeting to approve the A$7.8m placement to Burwill
Holdings Ltd, an existing substantial shareholder of Alliance, is scheduled for
25 June 2018.
- Tawana released the Notice of Meeting regarding the demerger of its noncore
assets into Cowan Lithium Limited on 1 June 2018, with the meeting to
approve the proposed demerger being scheduled for 6 July 2018.
For further information please contact +61 8 9489 2600.
12 June 2018
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 12/06/2018 08:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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