https://www.miningweekly.com

Firestone advises shareholders to hold off on acquisition

4th February 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX- and JSE-listed Firestone Energy on Monday again urged its shareholders to “take no action” until a formal recommendation on the proposed takeover bid from ASX-listed Range River Gold was tabled by the junior miner.

In December, Range River offered Firestone shareholders one of its own shares for every two Firestone shares held in an unsolicited, conditional, off-market takeover.

The offer represented a 25% premium on the $0.008 a share as at closing on December 13, 2012.

At the time, Firestone said the deal would see Range River and the junior miner’s partner Sekoko holding 70% and 30% respectively of the Waterberg coal project, which would result in a structure that was easier and simpler to control and finance.

Firestone said it was examining the bidder’s statement and would respond with a formal recommendation to shareholders in due course.

The offer was subject to a minimum acceptance condition of 50.1%.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

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:0.042 0.829s - 110pq - 2rq
Subscribe Now