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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ballarat Gold | LSE:BGF | London | Ordinary Share | AU000000BGF7 | ORD SHS NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0759O Ballarat Goldfields N.L. 18 December 2006 BALLARAT GOLDFIELDS NL ASX and Media release: 18 December 2006 Ballarat Goldfields and Lihir Gold Proposed Merger - Release of Explanatory Statement Ballarat Goldfields N.L. (Ballarat Goldfields) is pleased to announce that on Friday 15 December 2006 the Supreme Court of Victoria made orders convening a meeting of Ballarat Goldfields shareholders (Scheme Meeting) to consider the Scheme of Arrangement for the company's proposed merger with Lihir Gold Limited (Lihir), that was announced on 17 October 2006. Explanatory Statement and Scheme Meeting ASIC has subsequently registered the Explanatory Statement for this purpose and a copy follows. This will be mailed to Ballarat Goldfields shareholders by 12 January 2007 to provide them with relevant information necessary to determine whether to vote in favour of the merger at the Scheme Meeting that will take place on 12 February 2007 in Ballarat. The Explanatory Statement is also available on the Ballarat Goldfields website at www.ballarat-goldfields.com.au Directors' Recommendation The Directors of Ballarat Goldfields unanimously recommend that, in the absence of a superior proposal, Ballarat Goldfields shareholders vote in favour of the proposed merger as they believe it will deliver significant value to Ballarat Goldfields shareholders. Ballarat Goldfields Directors (all of whom hold Ballarat Goldfields shares) intend to vote their shares, and any proxies cast at their discretion, in favour of the merger. Scheme Consideration Under the terms of the Scheme, Lihir will acquire all of the shares in Ballarat Goldfields with Ballarat Goldfields shareholders receiving 5 New Lihir Shares for every 54 Ballarat Goldfields shares held. Independent Expert An independent expert's report from Grant Samuel & Associates Pty Ltd (Grant Samuel) has assessed the proposed merger and has concluded that, on balance, the Scheme is in the best interests of Ballarat Goldfields shareholders. Next Steps Ballarat Goldfields shareholders will be asked to vote at the Scheme Meeting, which will take place at 10.00am on 12 February 2007 at the Ballarat Lodge, 613 Main Road Ballarat. If shareholders vote in favour of the merger, Ballarat Goldfields intends to seek court approval at a second hearing of the Supreme Court of Victoria, which is expected to occur on or about 23 February 2007. Subject to Court approval at this hearing, implementation of the Scheme would occur on or about 5 March 2007. For further information, please visit our website www.ballarat-goldfields.com.au or contact Joel Forwood, Manager Corporate and Markets, on 03 5327 1111 This information is provided by RNS The company news service from the London Stock Exchange END MSCTPBTTMMJBMAF
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