JOHANNESBURG (miningweekly.com) – The offer period for ASX-listed Finders Resources is open, after the special purpose vehicle (SPV) for a group of Indonesian investors, Eastern Field Developments, on Monday displaced its bidder’s statement.
The offer of A$0.23 a share will close on December 20, unless it is extended of withdrawn.
However, Finders reiterated its previous advice that its shareholders should not accept the offer until they have received and considered the company’s target statement, which would contain an independent expert’s report as to whether the offer was fair and reasonable.
Finders pointed out that, since the offer was announced on October 6, the company’s shares had consistently traded above the offer price on the ASX. The stock fetched A$0.24 on Monday.
Eastern Field is the SPV for a consortium jointly owned by Procap Partners, PT Saratoga Investama Sedaya and PT Merdeka Copper Gold. These investors control about 19.8% of Finders.