Rum Jungle Resources Limited (ASX:RUM) advises that, as at 7pm on Wednesday 19 June 2013, it had not received acceptances under its takeover offer for Central Australian Phosphate Limited (ASX:CEN) for 50% of the CEN shares on issue. As at 9am on Thursday 20 June 2013, RUM had received acceptances under its takeover offer for CEN for 1.714% of the CEN shares on issue. RUM has not declared its takeover offer unconditional.
- RUM believes that its proposal to combine RUM and CEN under the takeover offer presents CEN shareholders with a significantly more attractive value proposition than the Monument Mining Limited ("Monument") joint venture proposal
- RUM encourages CEN shareholders to vote against the Monument joint venture proposal
RUM reiterates that its takeover offer for CEN will lapse due to breaches of its offer conditions if the resolution to approve entry into the Monument joint venture is passed at the CEN general meeting scheduled to be held on 26 June 2013 and RUM has not declared its takeover offer unconditional before that time. Subject to this, RUM will decide whether to waive or rely on the breaches of its offer conditions no later than the date for giving notice of status of conditions (currently 11 July 2013).
If CEN shareholders do not want the Monument joint venture to proceed, CEN shareholders should vote against the proposal at the CEN general meeting scheduled to be held on Wednesday, 26 June 2013.
If CEN shareholders have misplaced their Acceptance Forms or have any other questions relating to RUM's takeover offer, please contact the Offer Information Line: 1800 810 891 (within Australia) or +61 2 8256 3353 (outside Australia).
About Rum Jungle Resources Limited:
Rum Jungle Resources (ASX:RUM) is an Australian Securities Exchange listed, diversified junior explorer focused on highly prospective land located in Australia’s Northern Territory and Queensland.
A Northern Territory and Queensland focussed mineral explorer with a portfolio including: Uranium, Potash, Phosphate and Base Metals.
Rum Jungle Resources has strategic alliances with other major Northern Territory explorers increases exposure to additional exploration areas.
Rum Jungle Resources has experienced geological management backed up by a solid financial base to fund exploration budgets.
Rum Jungle Resources Limited T: +61-8-8942-0385 F: +61-8-8942-0318 WWW: www.rumjungleresources.com.au
Rum Jungle Resources Limited
Copyright (C) 2013 ABN Newswire. All rights reserved.