Kumba Resources Limited - Proposal To Acquire Tico
Kumba Resources Limited - Proposal To Acquire Ticor Limited Minority
Shareholdings
Kumba Resources Limited
Registration number: 2000/011076/06
ISIN:ZAE000034310
JSE Code: KMB
(`Kumba`)
PROPOSAL TO ACQUIRE TICOR LIMITED MINORITY SHAREHOLDINGS
Johannesburg, 31 May 2005: Shareholders are referred to the announcement made
today by Ticor Limited (`Ticor`) to the Australian Stock Exchange advising that
Kumba has presented the Board of Ticor with an indicative proposal that, if
recommended by the independent directors of Ticor, and if approved by the
minority shareholders in Ticor, would result in a wholly-owned subsidiary of
Kumba making an offer to acquire all the issued ordinary shares in Ticor that
Kumba does not already own for a cash consideration of A$1.70 per Ticor ordinary
share.
Kumba, through a wholly owned subsidiary, currently owns 51.54% of the issued
share capital of Ticor.
Kumba`s proposal is at a preliminary stage only and a transaction may not
eventuate. The parties will discuss various aspects of the proposal, including
the structure of the proposed acquisition in the coming weeks and should any
definitive proposal be sufficiently developed, an appropriate announcement will
be made at that time.
Kumba has appointed JPMorgan as its financial adviser and Mallesons Stephen
Jaques as its legal adviser in relation to the proposal.
Kumba Resources Limited Contact
Trevor Arran
General Manager Investor Relations
Telephone: +27-12-307-3292
E-mail: trevor.arran@kumbaresources.com
Date: 31/05/2005 07:35:30 AM Supplied by www.sharenet.co.za
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