QNI Takover Offer sent to Shareholders

 

TIDMGPN 
 
RNS Number : 0253T 
Gladstone Pacific Nickel Limited 
21 September 2010 
 

21 September 2010 
 
                        GLADSTONE PACIFIC NICKEL LIMITED 
                                (ACN 104 261 887) 
 
                    QNI Takeover Offer sent to Shareholders 
 
Gladstone Pacific Nickel Limited ("GPNL" or the "Company") announces that it has 
today received notice from QNI Resources Pty Ltd ("QNI") that QNI has now sent 
to each shareholder of GPNL the offer document and bidders statement in relation 
to the takeover offer by QNI for all the shares in GPNL that it does not already 
own which was announced on 12 August 2010. 
 
The offer period begins today, 21st September 2010 and unless withdrawn or 
extended in accordance with the Corporations Act is open until 5:00pm (Sydney 
time) on 25 October 2010. 
 
The Board recommends that shareholders take no action in relation to the offer 
until such time as they have received the Company's response in its Target's 
Statement to be sent to shareholders no later than 6 October 2010.  A copy of 
the Bidders Statement is available on the Company's website. 
 
QNI is a wholly owned subsidiary of Mr Clive Palmer and owns 50.04% of the 
ordinary shares of the Company.  Both QNI and Mr Palmer are considered related 
parties in accordance with the AIM rules for Companies. 
 
QNI is offering GBP0.14 cash per ordinary share which values the entire issued 
and paid up capital of the Company at GBP9,930,998.  The Bidder's Statement as 
supplied by QNI sets out the terms of the offer and other information about QNI 
and its intentions for the Company. 
 
The Company does not accept any responsibility for the information supplied by 
QNI or Mr Palmer. 
 
ENDS 
 
For more information or comment 
 
Julien McInally - Gladstone Pacific Nickel Ltd 
Tel:[phone] 
 
 Fiona Owen / Robert Beenstock - Grant Thornton Corporate Finance 
Tel:[phone] 
 
 Richard Johnson - Arbuthnot Securities 
 
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 
   END 
 
 OUPPGUQGBUPUUBG