https://www.miningweekly.com

Cardinal urges Shandong acceptance

5th January 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The board of takeover target Cardinal Resources have urged its remaining shareholders to accept the offer from Chinese suitor Shandong Gold Mining, after that company’s shareholding in Cardinal increased to 68%.

Shandong Gold’s A$1.075 a share offer is set to end on January 12, and is currently the only offer on the table.

Russian suitor Nordgold in December allowed its on-market takeover bid to expire, stating that it would not increase its offer price of A$1.05 a share, but would instead accept the increased offer from Shandong.

Guinean suitor Engineers & Planners Company has also stated that it would not proceed with its proposed off-market bid for Cardinal.

Cardinal has urged its remaining shareholders to accept the Shandong offer before the expiry date, noting that the company’s share price following the close of the transaction would likely be affected by the level of share liquidity and the continued listing of Cardinal on both the ASX or TSX, which is uncertain.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.063 0.892s - 110pq - 2rq
Subscribe Now