19 December 2008
TAKEOVERS
PANEL MEDIA RELEASE
Perilya Limited (ASX:PEM), the New South Wales zinc and lead miner notes today?s media release from the Takeovers Panel
concerning certain undertakings that CBH has given arising from Perilya?s application to the Takeovers Panel. Perilya
raised concerns about the sufficiency of disclosure of financial information
and certain statements made about synergies by CBH.
CBH TO ISSUE A
SUPPLEMENTARY BIDDER?S STATEMENT AND PROVIDE
WITHDRAWAL RIGHTS
The Panel has accepted an
undertaking by CBH and its wholly owned subsidiary,
Broken Hill Operations Pty Limited, that:
?
as soon as practicable after the release by CBH and
Perilya of their respective 31 December 2008 financial statements, CBH will
despatch a Supplementary Bidder?s
Statement which:
o updates
the financial information and pro forma financial information presented in CBH?s replacement Bidder?s
Statement lodged with ASX on 26 November 2008; and
o corrects
and qualifies statements made by CBH in relation to synergies.
?
with effect on or about the date of despatch of CBH?s Supplementary Bidder?s
Statement, any Perilya Shareholder who has already accepted CBH?s
Offer will be given a right to withdraw their acceptance. Details of how
to exercise the withdrawal rights will be available at the time that CBH issues
its Supplementary Bidder?s
Statement.
PERILYA RECOMMENDS
SHAREHOLDERS REJECT CBH?S OFFER
Perilya Directors continue to urge Perilya Shareholders to REJECT CBH?s unsolicited
Offer on the basis that Perilya has secured a superior alternative cash-based
proposal to CBH?s all-scrip bid, from Zhongjin Lingnan Nonfemet Co. Ltd, as announced on 9 December 2008. Further
details on Perilya?s
recommendation are set out in Perilya?s Target?s Statement, which was lodged with ASX on 15
December 2008 and dispatched to Perilya Shareholders on 16 December 2008.
For further information please contact:
Investors:
Paul Arndt
Managing
Director
+61 8 6210 2000
Patrick O?Connor
Non-Executive Chairman
|
Inquiries:
Paul Marinko
Company Secretary
+61 8 6210 2000
|
Media:
Warrick Hazeldine
Purple Communications
+61 89485 1254
|
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