QNI Offer - App. to the Takeovers Panel Australia

 

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RNS Number : 0131V 
Gladstone Pacific Nickel Limited 
26 October 2010 
 
 
 
 
26 October 2010 
                        GLADSTONE PACIFIC NICKEL LIMITED 
                                (ACN 104 261 887) 
 
Takeover offer from QNI Resources - application to the Takeovers Panel 
(Australia) 
Gladstone Pacific Nickel Limited ("GPNL") announces that on 25 October 2010, an 
application was made to the Takeovers Panel in Australia by RAB Special 
Situations (Master) Fund Limited alleging that unacceptable circumstances had 
arisen in relation to the takeover offer for GPNL by QNI Resources Pty Ltd. 
Attached is a link to the Takeovers Panel's media release in relation to the 
application 
http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=media_releases/2010/062 
htm&pageID=&Year=.  The Takeovers Panel made an interim order to the effect of 
preventing QNI Resources from processing acceptances of the offer or paying 
consideration until further order or the matter being determined but declined to 
make an interim order extending the offer period.  The offer therefore closed as 
scheduled at 5.00 pm Sydney time on 25 October 2010. 
No decision has been made by the Takeovers Panel whether to conduct proceedings. 
ENDS 
For more information or comment 
Julien McInally - Gladstone Pacific Nickel Ltd    Tel: [phone] 
 
 
Email: [e-mail] 
Gladstone Pacific Nickel Limited is an Australian mining development company 
presently undertaking an Integrated Definitive Feasibility Study for the 
Gladstone Nickel Project. The Company's vision is to build a major long-life 
nickel cobalt refinery at the deepwater Port of Gladstone, in Central 
Queensland, Australia, treating abundant high grade nickel laterite ores from 
New Caledonia and other south-west Pacific islands, underpinned by beneficiated 
ores from its own Marlborough deposits. The Project has the potential to be one 
of the largest of its type in the world producing some 126,000 tpa nickel (8 - 
10% of global nickel demand) and 10,400 tpa of cobalt metal from its first two 
stages. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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