re: Ann: Extension of Offer Period re Takeove... email just received
Toho Share Offer - Offer Declared Unconditional.
On the 1st July 2010 Toho Zinc Co., Ltd declared its 24 cents per share Offer for your CBH shares unconditional.
CBH shareholders who accepted the Offer on or before the 1st July 2010 will be paid the Offer price to which they are entitled on or before the 8th July 2010.
CBH shareholders who accept the Offer after the 1st of July will be paid the Offer price to which they are entitled on or before the date that is 7 days from the date of their acceptance of the Offer.
If Toho Zinc acquires 90% of CBH it intends to compulsorily acquire all of the remaining CBH shares. If this occurs, minority shareholders will be paid later than other CBH shareholders who accept the Offer.
Other risks of not accepting the Offer are set out in CBH's Target Statement and include: Non-accepting shareholders will be minority shareholders in a company controlled by Toho Zinc, The liquidity of CBH shares may be lower than at present, The market price for CBH shares may fall immediately following the end of the Offer period.
The largest outstanding CBH shareholder that has not yet accepted the Offer has advised Toho Zinc that it intends to accept for all of the CBH shares that it currently holds, which represents approximately 7.06% of the issued capital of CBH.
Taking into account Tohos relevant interest in CBH as at the 1 July 2010, the shares held in the Institutional Acceptance Facility and the shares held by the largest remaining shareholder in CBH, Toho has secured 72.04% of CBHs shares.
The Independent Directors of CBH unanimously recommend that you ACCEPT the Toho Offer in the absence of any superior proposal. Each of the Independent Directors has accepted or intends to accept the Offer in relation to all CBH shares they own or control.
Toho Zinc encourages CBH shareholders to act without delay and ACCEPT Toho Zincs Offer.
At this stage the offer is scheduled to close at 7pm (Sydney Time) on Wednesday 14 July 2010, but the Offer period can be extended in certain circumstances.
You are urged to read all the documentation carefully and if you would like to accept the offer, to return your validly completed acceptance form to the registry as soon as possible. If you hold your shares through a broker the quickest process is to instruct your broker to accept on your behalf.
If you have any questions relating to the Toho Share Offer, please call the Offer Information Line on 1800 647 299.
Regards,
Tatsuya Tejima President, Toho Zinc Co., Ltd
CBH Price at posting:
24.0¢ Sentiment: None Disclosure: Not Held
(20min delay)
