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Hannans:Extension of Off-Market Takeover Offer Period
Hannans Reward Limted (Hannans) has today announced that it holds a relevant interest of c.92.9% in Scandinavian Resources Ltd (SCR) under its off-market takeover offer for all of the ordinary shares in SCR (Offer).
As outlined in Hannans Bidder's Statement dated 20 March 2012, Hannans intends to proceed with compulsory acquisition given it holds a relevant interest of at least 90% of the issued shares in SCR.
Hannans will provide an opportunity to all remaining SCR Shareholders to accept the Offer by extending the Offer close date to 28 May 2012.
TweetHannans - Takeover offer for SCR declared unconditional
Hannans Reward Limited (Hannans) has today announced that it has declared its off-market takeover offer for all of the ordinary shares in Scandinavian Resources Ltd (SCR)free from all defeating conditions. Accordingly, the takeover offer is now unconditional.
Hannans’ offer is expected to close at 5.00pm (Perth time) on 18 May 2012. Accordingly,Hannans urges all SCR shareholders who have not yet accepted the offer to accept as soon as possible.
TweetSupplementary Target Statement
This document consists of:
- EXTENSION OF OFFER PERIOD
- EXERCISE OF SCANDINAVIAN RESOURCES OPTIONS
3rd Quarter Activities Report
KIRUNA IRON PROJECT
- Diamond drilling at Rakkurijoki re-commenced in March 2012
PRECIOUS & BASE METALS PIPELINE
- New REE-prospective claims applied for in Finnmark, Norway
- New Au-Cu-Ag claims applied for in Troms, Norway
CORPORATE UPDATE
- Scandinavian Resources Ltd the subject of take-over action by Hannans Reward Ltd.
HNR: Extension of Off-Market Takeover Offer Period
Hannans Reward Limited (ACN 099 862 129) (Hannans) has today announced that it has extended its off-market takeover offer for all of the ordinary shares that it does not already own in Scandinavian Resources Ltd (ACN 132 035 842) (SCR) so that the offer will now close at 5.00pm (Perth time) on 18 May 2012.
A copy of the formal notice of variation, together with an accompanying letter to be
sent to SCR shareholders, is attached.
SCR Target's Statement
Shareholders are advised to take no action
The Board of Scandinavian Resources Ltd (ASX: SCR) acknowledges receipt of the Bidder’s Statement from Hannans Reward Ltd (ASX:HNR) (Hannans).
Shareholders are advised to take no action until they receive the Target’s Response which is expected to be lodged on 30 March 2012 and mailed to all Shareholders shortly thereafter.
The Target’s Response will outline the Board’s recommendations in relation to the Hannans offer and therefore Shareholder’s should wait to consider the Target’s Response before making any decisions
TweetHannans Takeover offer supported by Scandinavian Resources shareholders
Hannans Bidder's Statement for Scandinavian Resources Ltd
We attach, by way of service pursuant to section 633(1) item 5 of the Corporations Act 2001 (Cth) (Corporations Act), a copy of Hannans Reward Ltd’s bidder’s statement in relation to its off-market takeover offer for all the outstanding fully paid ordinary shares in Scandinavian Resources Ltd (SCR).
The bidder’s statement has been lodged with the Australian Securities and Investments Commission and has been served on Scandinavian Resources Ltd.
TweetPresentations to Shareholders
Scandinavian Resources Ltd (ASX: SCR) is pleased to provide an opportunity for shareholders, stockbrokers and interested persons to attend a series of Presentations to be held in Perth, Melbourne and Sydney commencing Monday, 2 April 2012.
| Date | Time | Venue |
|---|---|---|
| PERTH | ||
| Mon, 2 April | 1pm | Scandinavian Resources 6 Outram Street, West Perth |
| MELBOURNE | ||
| Tue, 3 April | 1pm | Patersons Securities Level 15, 333 Collins Street, Melbourne |
| SYDNEY | ||
| Wed, 4 April | 1pm | Patersons Securities Level 48, Australia Square 264 George Street, Sydney |
In addition to the above presentations, stockbrokers are welcome to contact Ms Mindy Ong, on +61 8 9324 1153 to arrange alternative meeting times.
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