Ann: Ochre (OGH) Off-Market Bid for Gondwana (GDA, page-14

re: Ann: Ochre (OGH) Off-Market Bid for Gondw... Based on the royalty potential, in my opinion, gda is worth a minimum market cap of $10 million. 10 bagger, imo



Gondwana Resources mulls takeover offer
Monday, May 12, 2014 by Proactive Investors

Gondwana Resources mulls takeover offer

Gondwana Resources (ASX: GDA) has advised shareholders to take no action in relation to the unsolicited takeover offer from Ochre Group Holdings (ASX: OGH).

Ochre, already the largest shareholder in Gondwana with a 17.65% interest, is offering $0.082 cash for each Gondwana share.

One notable condition of the offer is for Gondwana not proceeding with a 1 for 1 rights issue priced at $0.032 per share.

Gondwana said that coming at a time when it had limited cash reserves, the offer placed shareholders in a position where they have no alternative but to accept it.