GGG's Offer for Auzex Opens
May 03 2011 - 3:40AM
UK Regulatory
TIDMGGG
GGG Resources plc
(the "Company" or "GGG")
GGG's offer for Auzex opens
GGG Resources plc (GGG) has today sent its first bidder's statement to Auzex
Resources Limited (Auzex) shareholders in relation to GGG's off-market takeover
offer for all of the ordinary shares in Auzex.
GGG's offer is dated 3 May 2011 and closes at 5.00pm (Perth time) on 6 June
2011, unless extended or withdrawn.
The Directors of GGG believe GGG's offer is a compelling proposition for Auzex
shareholders. If GGG's offer is successful, it will:
* consolidate the ownership of the Bullabulling Gold Project into a single
corporate group which will focus on the Bullabulling Gold Project;
* rationalise future decision-making processes in relation to the
Bullabulling Gold Project;
* allow for the potential improvement of the efficiency and timeliness in the
development of the Bullabulling Gold Project to maximise shareholder value
by accelerating exploration and development;
* align the interests of the two shareholder groups into a like-minded,
single group of shareholders;
* reduce corporate overheads and duplicated roles;
* allow GGG to strengthen its Western Australian-based team which will manage
the development and operations of the Bullabulling Gold Project in the
future; and
* potentially provide the merged entity with greater access to capital
markets in the United Kingdom as well as Australia.
If Auzex shareholders have any questions about GGG's offer, they can contact
the GGG Offer Information Line on 1300 710 755 (local call charges apply) from
within Australia or +61 2 8022 7902 (normal call charges apply) from outside
Australia.
A copy of the Bidder Statement will be available on the Company's website:
www.gggresources.com
Contacts:
Dr. Jeffrey Malaihollo Westhouse Securities Limited (UK Nominated
Adviser)
MD, GGG Resources plc (UK)
Tom Price / Martin Davison
Tel: + 44 1992 531820
Tel: + 44 20 7601 6100
Email: www.gggresources.com
Neil Boom Collins Stewart Europe Limited (Broker)
MD, Gresham PR Ltd (UK). John Prior / Adam Miller
Tel: + 44 7866 805 108 Tel: + 44 20 7523 8350
David McArthur David Brook
GGG Resources plc (Australia) Professional Public Relations (Australia
media)
41 Stirling Highway
T: +61 8 9388 0944/ +61 433 112 936
Nedlands, WA 6009
E: david.brooks@ppr.com.au
Australia
Tel: +61 8 9423 3200
END
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