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