QNI Offer - Supplementary Targets Statement
October 12 2010 - 5:40AM
UK Regulatory
TIDMGPN
RNS Number : 2489U
Gladstone Pacific Nickel Limited
12 October 2010
12 October 2010
GLADSTONE PACIFIC NICKEL LIMITED
(ACN 104 261 887)
QNI Takeover Offer - Publication of Supplementary Target's Statement
Gladstone Pacific Nickel Limited ("GPNL" or the "Company") announces that it has
lodged with the Australian Securities & Investments Commission ("ASIC") a
supplementary target's statement ("Supplementary Target's Statement"), in
relation to the takeover offer by QNI Resources Pty Ltd ("QNI") for all the
shares in GPNL that it does not already own (the "Offer"), which was announced
on 12 August 2010.
This document is the first Supplementary Target's Statement issued by GPNL in
relation to its target's statement dated 5 October 2010 (Original Target's
Statement).
The Supplementary Target's Statement supplements, and should be read together
with, the Original Target's Statement.
Amendment to the Original Target's Statement
The Board has obtained advice on the matter disclosed in section 7.1 of the
Original Target's Statement. The Board has concluded that there is no evidence
of any matter which gives rise to a claim and therefore it will not be pursuing
that matter.
The Target's Statement is therefore amended as follows:
- Page 5, fifth bullet point, delete the last sentence cross referring
to section 7.1.
- Section 7.1 - delete and replace with:
7.1 Litigation
There is no current litigation of a material nature against GPNL or any
controlled entity of GPNL. Your Directors have no knowledge of any potential
material litigation against GPNL or any controlled entity of GPNL.
A copy of the Supplementary Target's Statement will be despatched to each GPNL
Shareholder and is available on the Company's website
www.gladstonepacific.com.au. In addition, the Original Target's statement has
been amended to include the changes pertaining to the Supplementary Target's
Statement and this is available on the Company's website
www.gladstonepacific.com.au.
ENDS
For more information or comment
Julien McInally - Gladstone Pacific Nickel Ltd
Tel:+61(0)7 3231 7100
Fiona Owen / Robert Beenstock - Grant Thornton Corporate Finance
Tel:+44 20 7383 5100
Richard Johnson - Arbuthnot Securities
Tel: +44 20 7012 2000
Email: info@gladstonepacific.com.au
Gladstone Pacific Nickel Limited is an Australian mining development company
presently undertaking an Integrated Definitive Feasibility Study for the
Gladstone Nickel Project. The Company's vision is to build a major long-life
nickel cobalt refinery at the deepwater Port of Gladstone, in Central
Queensland, Australia, treating abundant high grade nickel laterite ores from
New Caledonia and other south-west Pacific islands, underpinned by beneficiated
ores from its own Marlborough deposits. The Project has the potential to be one
of the largest of its type in the world producing some 126,000 tpa nickel (8 -
10% of global nickel demand) and 10,400 tpa of cobalt metal from its first two
stages.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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