Herald Resources Ltd

Published : April 28th, 2008

Takeover bid for Herald Resources Limited (HER) by Tango Mining Pte. Ltd.

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28 April 2008

 

The Manager

Company Announcements Office

ASX Limited

20 Bridge Street

SYDNEY NSW 2000

Facsimile no: 1300 135 638

 

 

 

Dear Herald Shareholder

 

Takeover bid for Herald Resources Limited by Tango Mining Pte. Ltd.

We are writing to provide you with an update in relation to the recommended cash Offer of $2.50 for each Herald Resources Limited (Herald) share you own made by Tango Mining Pte. Ltd. (Tango).

 

Update on FIRB application

Tango advised in its Bidder’s Statement dated 7 March 2008 that one of the conditions to the Offer for your shares was the approval or non-objection of the Treasurer (who receives advice from the Foreign Investment Review Board (FIRB)) under Part II of the Foreign Acquisitions and Takeovers Act 1975 (Cth) because Tango is a foreign person.

 

Tango lodged its FIRB application on 4 March 2008. Subsequent to this original application, in order to avoid FIRB formally extending its time for consideration of the application by a further 90 days (as FIRB is able to do), FIRB suggested to Tango that it would potentially expedite the process if Tango were to withdraw and immediately resubmit its application. This has the effect of starting afresh the time period for FIRB's consideration of the application, but avoids a 90 day extension. On the understanding that this would facilitate FIRB's consideration of the application, Tango resubmitted its application on 3 April 2008. As at the date of this announcement, Tango has not yet received FIRB approval.

 

Extension of Tango Offer

Tango advises that it has extended its Offer of $2.50 cash for each share in Herald Resources Limited you own.

 

We enclose with this letter a notice of variation which extends the offer period. The offer period will now end at 5.00pm (Perth time) on Thursday, 5 June 2008 (unless extended). Please follow the instructions on the acceptance form sent to you with Tango's Bidder's Statement to accept Tango's Offer. If your Herald shares are in a CHESS Holding and you want Tango to contact your Controlling Participant (normally your stockbroker) on your behalf via the CHESS system, please sign and return the acceptance form to the Tango share registry so that it is received no later than 5.00pm (Perth time) on Wednesday, 4 June 2008.

 

If you have any questions in relation to this letter or about Tango's Offer for your Herald shares, please call our Offer Information Line on 1300 731 918 (toll-free within Australia) or +61 3 9415 4696 (outside Australia).

 

Yours sincerely,

 

Zheng Wenda                                        Tuhiyat Junaeni

Director of Tango Mining Pte. Ltd.       Director of Tango Mining Pte. Ltd.

 

 

TANGO MINING PTE. LTD.

 

NOTICE OF VARIATION OF TAKEOVER OFFER FOR SHARES IN HERALD RESOURCES LIMITED ABN 15 008 672 071

and

NOTICE UNDER SECTION 630(2)(b) OF THE CORPORATIONS ACT 2001 (Cth)

 

TO:       Australian Securities and Investments Commission (ASIC)

Herald Resources Limited ABN 15 008 672 071 (Herald)

Each person to whom offers were made under the takeover bid by Tango Mining Pte. Ltd.

(Offeree)

 

1.     EXTENSION OF OFFER PERIOD

By this notice Tango Mining Pte. Ltd. (Tango) VARIES its offers dated 20 March 2008 for all of the ordinary shares in Herald (the "Offers") by:

(a) extending the period during which the Offers remain open for acceptance (the Offer Period) until 5.00pm Perth time on Thursday 5 June 2008; and

(b) substituting the date 5 June 2008 for the date "6 May 2008" in section 9.2 of Tango's Bidder's Statement dated 7 March 2008 (Bidder's Statement) and in all other sections of the Bidder's Statement where the date "6 May 2008" appears.

 

2.     NOTICE UNDER SECTION 630(2)(b) OF THE CORPORATIONS ACT 2001 (CTH)

Tango GIVES NOTICE under section 630(2)(b) of the Corporations Act that:

(a) The date for giving notice of the status of conditions to the Offer under section 630(3) of the Corporations Act set out in section 9.14 of the Bidder's Statement is postponed to 28 May 2008.

(b) Tango has not declared the Offers free from the conditions set out in section 9.9 of the Bidder's Statement.

(c) As far as Tango is aware, the conditions set out in section 9.9 of the Bidder's Statement were, at the time of giving this notice, unfulfilled, except for the conditions in sections 9.9.1, 9.9.2 and 9.9.9 of the Bidder's Statement.

 

 

A copy of this notice was lodged with ASIC on 28 April 2008. ASIC takes no responsibility for the contents of the notice.

 

DATED 28 April 2008

 

SIGNED on behalf of Tango Mining Pte. Ltd. by Zheng Wenda and Tuhiyat Junaeni being two directors of Tango Mining Pte. Ltd. who are authorised to so sign by a resolution passed at a meeting of the directors of Tango Mining Pte. Ltd.

 

 

Zheng Wenda                            Tuhiyat Junaeni

Director                                    Director

 

 

***

 

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Herald Resources Ltd

DEVELOPMENT STAGE
CODE : HER.AX
ISIN : AU000000HER4
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Herald Res. is a zinc and lead producing company based in Australia.

Herald Res. develops zinc, lead, gold and silver in Australia and in Indonesia, and holds various exploration projects in Australia and in Indonesia.

Its main assets in development are DAIRI in Indonesia and MONTAGUE WHISTLER in Australia and its main exploration properties are MELUAK GOLD PROJECT, TIKUS and BELITUNG ISLAND (KELAPA KAMPIT) in Indonesia and CRATER GOLD in Australia.

Herald Res. is listed in Australia. Its market capitalisation is AU$ 187.3 millions as of today (US$ 171.6 millions, € 114.6 millions).

Its stock quote reached its highest recent level on June 13, 2008 at AU$ 2.99, and its lowest recent point on December 12, 2008 at AU$ 0.01.

Herald Res. has 211 676 803 shares outstanding.

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6/3/2008Tango Announces a Revised Two-Tier $2.60 - $2.65 Recommended...
5/27/2008Takeover Update
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2/7/2008 Upgrade of Resouce Estimate at Lae Jehe
2/1/2008December 2007 Quarterly Report
1/29/2008Market Update
1/17/2008 Takeover Offer from PT Bumi/Discussions with Other Parties
1/7/2008Update on Takeover Bid
12/20/2007 Update on Takeover Bid
12/12/2007 Advice to Shareholders Regarding Bid
10/31/2007 September Quarterly Report
5/23/2007Dairi Project Update
5/26/2006US$62M bank finance offer for Dairi project
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AUSTRALIA (HER.AX)
0.885-2.75%
AUSTRALIA
AU$ 0.885
11/10 18:47 -0.030
-2.75%
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2,486 0.568%
24hGold TrendPower© : -8
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Develops Gold - Lead - Silver - Zinc
Explores for Gold
 
 
 
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