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MC Mining Ltd - Canberra, Australia-based developer of coal mines across South Africa - Says it has received a second supplementary statement from Goldway Capital Investment Ltd. Notes it is reviewing the contents of the second supplementary bidder's statement and will formally respond in due course. Goldway first launched its AUD0.16-a-share takeover bid for MC Mining last month. MC Mining had urged its shareholders to reject the February offer.
MC Mining says the takeover offer remains open until April 5. Tells its shareholders there is no need to do anything until they have received the supplementary target's statement and accompanying independent expert's report. Expects the exprt report on or before Monday. This latest development comes after MC Mining on Tuesday said Vulcan Resources Ltd would not proceed with making a formal offer for MC Mining. On Friday last week, the owner and operator of the Moatize coal mine in Mozambique proposed offering between AUD0.17 and AUD.20 per MC Mining share.
Current stock price in Sydney: AUD0.15
12-month change: down 6.3%
Current stock price in London: 7.11 pence, down 1.9%
12-month change: down 30%
Current stock price in Johannesburg: ZAR1.90
12-month change: down 9.1%
By Artwell Dlamini, Alliance News reporter
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