Moto Board considers offer from Randgold Resources
20 Juli 2009 - 5:20PM
UK Regulatory
TIDMMOE TIDMRRS
RNS Number : 9742V
Moto Goldmines Limited
20 July 2009
"Not for dissemination in the United States or through any US newswire service"
NEWS RELEASE
FOR IMMEDIATE RELEASE
TSX Code - MGL
JULY 20, 2009 AIM Code - MOE
MOTO BOARD CONSIDERS POTENTIALLY SUPERIOR OFFER FROM RANDGOLD RESOURCES
PERTH, WESTERN AUSTRALIA - Moto Goldmines Limited ("Moto") confirms that its
Board of Directors (the "Moto Board"), having received advice from its financial
and legal advisors, has determined that the unsolicited offer received on July
16, 2009 from Randgold Resources Limited ("Randgold") for the acquisition of all
of the shares of Moto by way of a proposed plan of arrangement is potentially
superior to the terms of the current agreement between Moto and Red Back Mining
Inc. ("Red Back") announced June 1, 2009.
Moto will now commence negotiations with Randgold concerning its offer. Should
such negotiations result in Moto and Randgold settling the terms of a definitive
agreement that the Moto Board considers constitutes a superior proposal to the
current agreement with Red Back, Moto will so advise Red Back. Under the terms
of its current agreement with Moto, Red Back would then have a period of five
business days to offer to amend the terms of that agreement. In accordance with
the terms of the current Red Back agreement, if Red Back then offers to amend
the terms of its proposal such that the Moto Board determines that the Randgold
Proposal is no longer a superior proposal, Moto will be required to enter into
an amendment to the existing Red Back agreement and to implement the amended Red
Back proposal.
Moto will advise by news release in due course the results of its negotiations
with Randgold and, in particular, if it settles the terms of a definitive
agreement with Randgold that triggers Red Back's right to amend its current
offer.
For further information in respect of Moto's activities, please contact:
+-----------------------------------------+--------------------------------------+
| Andrew Dinning | Mark Arnesen |
+-----------------------------------------+--------------------------------------+
| President and Chief Operating Officer | Financial Director and Chief |
| | Financial Officer |
+-----------------------------------------+--------------------------------------+
| Tel: +61 8 9273 4222 | Tel: +61 8 9273 4222 |
+-----------------------------------------+--------------------------------------+
| email: adinning@motogoldmines.com | email: marnesen@motogoldmines.com |
+-----------------------------------------+--------------------------------------+
Moto Goldmines Limited website: www.motogoldmines.com
+-----------------------------------------+--------------------------------------+
| Nominated advisor for the purposes of | RFC Corporate Finance Ltd |
| AIM: | Steve Allen |
| | Tel: +61 8 9480 2508 |
| | email: Steve.Allen@rfc.com.au |
+-----------------------------------------+--------------------------------------+
| AIM Broker | GMP Securities Europe LLP |
| | James Cassley |
| | Tel: +44 207 647 2803 |
| | email: james.cassley@gmpeurope.com |
+-----------------------------------------+--------------------------------------+
Caution Regarding Forward-Looking Statements: Statements in this news release
regarding the negotiation of a definitive agreement with Randgold and amendments
to the current agreement between Moto and Red Back are forward-looking. There
can be no assurance that Moto and Randgold will reach a definitive agreement or,
if an agreement is reached, that Red Back will offer to amend the terms of its
agreement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
OUPPUUCGMUPBGAU
Moto Goldmines (LSE:MOE)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Moto Goldmines (LSE:MOE)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
Echtzeit-Nachrichten über Moto Goldmines (Londoner Börse): 0 Nachrichtenartikel
Weitere Moto Goldmines Ltd News-Artikel