Atlas Iron Limited (ASX:AGO) Reaches 97.73% Interest In Ferraus (ASX:FRS) And Intends To Commence Compulsory Acquisition
Sydney, Oct 6, 2011 AEST (ABN Newswire) - Please be advised that as of the Offer Close Date at 5.00pm AWST on Wednesday, 5 October 2011, Atlas Iron Limited (ASX:AGO) has received acceptances for its off-market takeover bid for FerrAus (ASX:FRS) which entitles Atlas to a relevant interest in 97.73% of FerrAus ordinary shares.
Compulsory Acquisition Consideration
FerrAus shareholders whose acceptances were not received by the Offer Close Date will have their shareholdings compulsorily acquired and will receive the same consideration as Atlas' off-market takeover bid for FerrAus, being one (1) Atlas share in consideration for every four (4) FerrAus shares.
Atlas' financial advisor in respect of its off-market takeover bid for FerrAus is Hartleys Limited and its legal advisor is Blake Dawson.
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.
About Ferraus Limited
FerrAus Limited has been delisted from the Australian Securities Exchange following its acquisition by Atlas Iron Limited. For all enquiries please visit the Atlas Iron website at www.AtlasIron.com.au
Atlas Iron Limited