I am bullish on gas/oil and goldSo I reckon the MD is on the...

I am bullish on gas/oil and goldSo I reckon the MD is on the right

Looks like ENK has been approached.....LRL better watch out




27 July 2012 - ENK plc ("ENK" or the "Company") (AIM, PLUS, ASX: ENK) makes the following announcement with respect to potential corporate activity involving the Company.

The Company has received an approach that may or may not lead to an offer being made for all of the issued and to be issued share capital of the Company. Discussions are at an early stage and there can be no guarantee that a formal takeover offer will be made.

With the closing mid-market share price on 26 July 2012 of 13.75 pence (A$0.207), and a net asset value of 28.0 pence per share (A$0.42), the company believes any offer would need to be at a significant premium in order to recognise the full value of the company's assets and significant technological expertise.

The Company has US$30 million in cash, another US$11 million receivable over the next 5 months and is presently finalising the Bankable Feasibility Study on its Acoje project. The Company's Update and Quarterly Activities report released to the market on 26 July 2012 contains a full summary of the status of its assets and projects.

In the event that an offer is made the Company has confirmed with the Panel on Takeovers and Mergers that the UK Takeover Code does not currently apply to the Company. Regardless, the Company has urged the interested party to follow the UK Takeover Code as much as practicable in order to ensure an orderly process.