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Toro Energy Success In A$275 Million Nova Energy Acquistion
Adelaide, Oct 26, 2007 (ABN Newswire) - Takeover Offer by Toro Energy Ltd (ASX: TOE) for Nova Energy Ltd (ASX: NEL)
Close of Offer Period and notification of relevant interests.
The off-market takeover bid by Toro Energy Limited (Toro) for all the issued ordinary shares (Nova Shares) in Nova Energy Limited (Nova) will close at 5:00pm (Adelaide time) today on 26 October 2007.
For the purposes of ASX Listing Rule 3.3, we notify that:
1. Toro and its associates have, at 12.32pm Friday 26 October 2007, a relevant interest in 93.63% of the Nova Shares; and
2. As the applicable thresholds have been reached, compulsory acquisition of the outstanding Nova Shares will proceed.
About TORO ENERGY LIMITED
Toro Energy Limited (Toro Energy) is an Australian-based mining company. Toro Energy was formed through the amalgamation of the uranium interests of Oxiana Limited (Oxiana) and Minotaur Exploration Limited (Minotaur Exploration) in South Australia. Toro Energy focuses to acquire uranium exploration and development rights over 42 properties covering a total area of 26,069 square kilometers in recognized uranium provinces of South Australia. These properties offer potential for commercial discoveries of sedimentary uranium deposits in three geological settings: in Tertiary and Permian age palaeochannel sediments; in unconformity-related deposits associated with red-beds overlying Proterozoic basement, and in vein-hosted and intrusive-related deposits within Proterozoic basement.
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2007/09/28 12:51
Aust Market At Midday, (ASX: TOE), (ASX: RFG), (ASX: NEL)
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Aust Market Outlook, (ASX: MBL), (ASX: NEL), (ASX: TOE), (ASX: OXR)
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