Any idea why ZFX isnt trading this morning?? no news of trading halt. Missing out on the big market gains!!
23 January 2008
Zinifex’s Offer for Allegiance simplified
Zinifex Limited (ASX: ZFX.AX) (“Zinifex”) today announced it will simplify
the takeover offer by its subsidiary Zinifex Australia Limited (“Zinifex”) for
all of the issued ordinary shares of Allegiance Mining NL (ASX: AGM.AX)
(“Allegiance”).
Zinifex will now offer $1.00 cash per share for all Allegiance shares,
irrespective of whether it acquires a relevant interest in 30% of shares or
receives a directors’ recommendation. As the offer is unconditional,
accepting shareholders will be paid within 5 business days of the receipt
of a valid acceptance.
In addition Zinifex reserves the right to stand in the market to acquire
Allegiance shares at prices up to and including the offer price.
Zinifex’s Chief Executive Officer (elect) Andrew Michelmore said “Zinifex
notes the current market turmoil, which has accelerated the decline in
values of many peer mid-sized ASX-listed nickel companies. We made
our intention clear when we proposed to offer up to $1.00 cash per
Allegiance share and Zinifex stands by that intention.
“At this time, we felt individual shareholders would be supportive of a
simplified offer structure and enhanced liquidity in the market such that
they can avail themselves of a real 41% premium,” he said.
For more information contact:
Martin McFarlane
Group Manager – Investor & Community Relations
Zinifex Limited
Direct telephone: +61 (3) 9288 0479
Mobile: +61 (0) 417 543 638
Email:
martin.mcfarlane@zinifex.com