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Perth, Aug 12, 2010 (ABN Newswire) - Atlas Iron Limited (
ASX:AGO) and Aurox Resources Limited (ASX:AXO) (PINK:AUOXF) are pleased to report that the Federal Court of Australia has earlier today approved the scheme of arrangement between Aurox and its shareholders.
Aurox will now proceed to extract the Orders from the Federal Court and intends to lodge the Orders with the Australian Securities and Investments Commission ("ASIC") tomorrow, Friday, 13 August 2010.
Tomorrow will be the last day of trading for Aurox and suspension of trading in Aurox securities will occur on ASX at the close of trading on Friday, 13 August 2010.
Assuming that trading in Aurox shares is suspended on Friday, 13 August 2010, the timetable for the completion of the Merger is as follows.
Scheme Effective Date. Suspension of Aurox Shares from trading
- 13 August 2010
Trading of New Atlas Shares on ASX on a deferred settlement basis
- 16 August 2010
Record Date for determining entitlements to Scheme Consideration
- 5.00pm (WST) on 20 August 2010
Scheme Implementation Date - Issue of New Atlas Shares to Scheme Participants
- 24 August 2010
Dispatch of holding statements for New Atlas Shares
- 24 August 2010
Trading of New Atlas Shares on ASX on a normal T+3 settlement basis
- 25 August 2010
All dates are indicative only and may change without notice.
The Boards of both Atlas and Aurox welcome the Court's approval of the Merger and look forward to the ongoing success of the merged company.
ASX:AGO) and Aurox Resources Limited (ASX:AXO) (PINK:AUOXF) are pleased to report that the Federal Court of Australia has earlier today approved the scheme of arrangement between Aurox and its shareholders.Aurox will now proceed to extract the Orders from the Federal Court and intends to lodge the Orders with the Australian Securities and Investments Commission ("ASIC") tomorrow, Friday, 13 August 2010.
Tomorrow will be the last day of trading for Aurox and suspension of trading in Aurox securities will occur on ASX at the close of trading on Friday, 13 August 2010.
Assuming that trading in Aurox shares is suspended on Friday, 13 August 2010, the timetable for the completion of the Merger is as follows.
Scheme Effective Date. Suspension of Aurox Shares from trading
- 13 August 2010
Trading of New Atlas Shares on ASX on a deferred settlement basis
- 16 August 2010
Record Date for determining entitlements to Scheme Consideration
- 5.00pm (WST) on 20 August 2010
Scheme Implementation Date - Issue of New Atlas Shares to Scheme Participants
- 24 August 2010
Dispatch of holding statements for New Atlas Shares
- 24 August 2010
Trading of New Atlas Shares on ASX on a normal T+3 settlement basis
- 25 August 2010
All dates are indicative only and may change without notice.
The Boards of both Atlas and Aurox welcome the Court's approval of the Merger and look forward to the ongoing success of the merged company.
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About Atlas Iron Limited
Atlas Iron Limited (ASX:AGO) is mining and exporting from its 100%-owned Pardoo and Wodgina Iron Ore projects, located 75 kilometres and 110km by road from Port Hedland in the Pilbara region of Western Australia. In the 2009/10 financial year Atlas shipped over 1.2 million tonnes of Pardoo Direct Shipping Ore (DSO). Atlas is expanding its production from its Wodgina and Pardoo DSO mines following the commissioning of the Utah Point port facility and is targeting exports at an annualised rate of 6 million tonnes by the end of 2010. When combined with additional export tonnages from its Abydos & Mt Webber DSO Projects, the Company is targeting exports at an annualised rate of 12 million tonnes during 2012.
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>>>          Atlas Iron Limited>>> Aurox Resources Limited |
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Metals | Energy General | Financial General | Mining | Iron Ore | |
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