JOINT NEWS RELEASE
Release Time: Immediate
Date: 15 July 2008
TANGO WILL NOT EXTEND CASH OFFER
FOR HERALD RESOURCES
Tango Mining Pte. Ltd. ("Tango"), the special purpose vehicle owned by PT Antam Tbk and Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd, formed for the purpose of making a takeover bid for Herald Resources Limited ("Herald"), announces that it will not extend its cash offer for Herald.
Tango's offer will close at 5pm (Perth time) today, 15 July 2008.
Tango has decided to accept the takeover offer by Calipso Investment Pte Ltd in respect of all the Herald shares held or controlled by it, which currently comprises 38,257,618 Herald shares.
For further information please contact:
Herald Shareholders
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The Tango Offer Information Line |
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For callers within Australia
1300 731 918
(toll-free for callers within Australia) |
For callers outside Australia
+61 3 9415 4696
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Purple Communications |
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Mr. Warrick Hazeldine
Director
Tel: + 61 8 9485 1254 |
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Herald Resources Ltd
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DEVELOPMENT STAGE |
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CODE : HER.AX |
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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. |