| Todd Transaction – Notice of Meeting and Proposed Capital Return | |
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ASX ANNOUNCEMENT
24 July 2015
Todd Transaction - Notice of Meeting and Proposed Capital Return
The Directors of Flinders Mines Limited (ASX:FMS) advise that Deloitte Corporate Finance will finalise its Independent Experts Report in respect to the Todd Corporation Transaction* in the next few days. This report and the Notice of Meeting will then be lodged with the ASX and ASIC for review. Once this process has been completed both documents will be dispatched to shareholders.
The Directors are also pleased to advise that if the Todd transaction is approved by shareholders, they have resolved to return 0.25 cents per share (approx. $7m) of the initial option fee of $10m to its shareholders via a return of capital "Capital Return". The Capital Return will be subject to shareholder approval and a favourable class ruling by the Australian Tax Office (ATO) on the taxation treatment of the payment.
Approval for the Capital Return will also be sought at the shareholders' meeting to vote on the Todd
Transaction.
IAN GORDON
MANAGING DIRECTOR
* For further detail refer to ASX announcement dated 11 May 2015
Flinders Mines Limited ABN 46 091 118 044 www.flindersmines.com
Level 1, 135 Fullarton Road
Rose Park
South Australia 5067
PO Box 4031
Norwood South
South Australia 5067
telephone 61 8 8132 7950 facsimile 61 8 8132 7999 email [email protected]
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Flinders Mines Limited
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CODE : FMS.AX |
ISIN : AU000000FDL3 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Flinders Mines is a exploration company based in Australia. Flinders Mines holds various exploration projects in Australia. Its main exploration property is LOBETHAL (ECHUNGA JV) in Australia. Flinders Mines is listed in Australia. Its market capitalisation is AU$ 2.2 billions as of today (US$ 1.6 billions, € 1.5 billions). Its stock quote reached its lowest recent point on March 04, 2016 at AU$ 0.01, and its highest recent level on March 05, 2021 at AU$ 1.65. Flinders Mines has 3 193 779 968 shares outstanding. |