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Details of the merger, including details of how Warwick shareholders and optionholders ("Warwick Security Holders") can vote on the proposed merger, are set out in the Scheme Booklet that will be mailed to Warwick Security Holders shortly.
The Scheme Booklet also contains Independent Expert's Reports that have assessed the proposed merger and concluded that the Schemes are fair and reasonable and in the best interests of Warwick Security Holders.
Scheme Consideration
Under the terms of the Schemes, Atlas is offering:
- Warwick shareholders 1 Atlas share for every 3 Warwick shares held on the record date for the share scheme; and
- Warwick optionholders a number of Atlas shares which is dependent on the tranche of Warwick options held by each optionholder, as set out in Atlas' and Warwick's ASX announcements that were released on 8 September 2009 .
Directors' Recommendation
The directors of Warwick (other than Atlas' nominee) have unanimously recommended that Warwick Security Holders vote in favour of the Schemes, in the absence of a superior offer. The directors of Warwick have also advised that they each intend to vote the Warwick shares and options that they control in favour of the Schemes, in the absence of a superior offer.
Shareholders Meeting and Optionholders Meeting
The Shareholders Meeting is scheduled to take place at 11.30am (WST) on 30 November 2009 at Kailis Bros. GP Kailis Room, 101 Oxford Street, Leederville, Western Australia.
The Optionholders Meeting is scheduled to take place at 12.00pm (WST) on 30 November 2009 at Kailis Bros. GP Kailis Room, 101 Oxford Street, Leederville, Western Australia (or, if later, as soon as possible after the conclusion of the Shareholders Meeting).
All proxy voting instructions for the Shareholders Meeting must be received by no later than 11.30am (WST) on 28 November 2009. All proxy voting instructions for the Optionholders Meeting must be received by no later than 12.00pm (WST) on 28 November 2009.
Timetable
Atlas and Warwick expect the merger will be implemented by 18 December 2009. An indicative timetable for the merger is provided below.
Event ----- Scheme Booklet sent to Warwick Security Holders Warwick Shareholders Meeting Warwick Optionholder Meeting Second Court hearing -------------------- Effective Date - court order lodged with ASIC Implementation Date for the share scheme Implementation Date for the option scheme Indicative Date --------------- By 30 October 2009 11.30am (WST) on 30 November 2009 12.00pm (WST) on 30 November 2009 (or, if later, as soon as possible after the conclusion of the Shareholders Meeting) 7 December 2009 8 December 2009 17 December 2009 18 December 2009
About Atlas Iron Limited
Atlas Iron Limited (ASX:AGO) is an independent Australian iron ore company, mining and exporting Direct Shipping Ore (DSO) from its operations in the Northern Pilbara region of Western Australia. Since listing on the ASX in late 2004, Atlas has grown rapidly and is now a member of the ASX100 index.
Contact
David FlanaganManaging Director
Atlas Iron Limited
Tel: +61-8-9476-7900
Will Burbury
Chairman
Warwick Resources Limited
Tel: +61-8-9227-6680
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