GGG Resources Plc
ASX : GGB
AIM : GGG

GGG Resources Plc

May 27, 2011 04:42 ET

GGG Extends Offer Period While It Awaits Further Disclosures From Auzex

LONDON, UNITED KINGDOM--(Marketwire - May 27, 2011) - GGG Resources plc ("GGG") (ASX:GGB)(AIM:GGG) has today extended the offer period of its off-market takeover offer for all of the ordinary shares in Auzex Resources Limited ("Auzex") for two weeks so that it is now scheduled to close at 5.00pm (Perth time) on Monday 20 June 2011 (unless further extended).

On 6 May 2011, Auzex announced three separate proposals; namely:

  • A demerger of its non-core exploration assets;
  • A proposed $25 million capital raising; and
  • Seeking a listing on the London AIM market.

This extension is to allow GGG and all other Auzex shareholders time to consider the details which Auzex should disclose in relation to these proposals.

With the release of Auzex's target statement on 19 May 2011, GGG expected that there would be further disclosure of the proposals, however, this did not occur. Auzex's target statement provided little additional information on the proposals.

The following documents are attached for immediate release to the market:

  • a letter which is being sent to Auzex shareholders explaining the extension; and
  • a formal notice of variation required in respect of the extension by the Corporations Act 2001 (Cth).

To view the attachments associated with this press release, please visit the following link: http://media3.marketwire.com/docs/700044_attach.pdf

Contact Information

  • David McArthur
    GGG Resources plc (Australia)
    41 Stirling Highway
    Nedlands WA 6009,
    Australia
    +61 8 9423 3200

    Dr. Jeffrey Malaihollo
    MD, GGG Resources plc (UK)
    + 44 1992 531820
    www.gggresources.com

    Collins Stewart Europe Limited (Broker)
    John Prior / Adam Miller
    + 44 20 7523 8350

    Westhouse Securities Limited
    (UK Nominated Adviser)
    Tom Price / Martin Davison
    + 44 20 7601 6100

    Neil Boom
    MD, Gresham PR Ltd (UK)
    + 44 7866 805 108

    David Brook
    Professional Public Relations
    (Australia media)
    +61 8 9388 0944/ +61 433 112 936
    david.brook@ppr.com.au