Inova Resources Limited
TSX : IVA
ASX : IVA

August 21, 2013 03:56 ET

Inova Resources Limited: Intended Takeover Offer

Notice in relation to the announcement made today by Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd that it intends to make an off-market takeover offer to acquire all of the ordinary shares in Inova.

MELBOURNE, AUSTRALIA--(Marketwired - Aug. 21, 2013) - Inova Resources Limited (TSX:IVA)(ASX:IVA) (the Company) refers to the announcement made today by Shanxi Donghui Coal Coking & Chemicals Group Co., Ltd (Shanxi Donghui). As detailed in that announcement, Shanxi Donghui has entered into a pre-bid acceptance deed with the Company's majority shareholder Turquoise Hill Resources Limited (Turquoise Hill), and intends to make an off-market takeover offer for all of the ordinary shares in the Company at A$0.22 cash per share (Takeover Offer).

The Company notes that under the pre-bid acceptance deed, Turquoise Hill has agreed to accept into the Takeover Offer for 14.9% of the shares in the Company, unless a superior proposal emerges prior to accepting the Takeover Offer and Shanxi Donghui does not match that proposal. Shanxi Donghui has lodged a substantial shareholder notice.

Shanxi Donghui's announcement states that the Takeover Offer will be subject to a number of conditions including a 51% minimum acceptance condition and approvals including from FIRB and from Chinese regulatory bodies. The full list of conditions is set out in Annexure A to the announcement.

Shareholders should refer to the announcement made by Shanxi Donghui for further details on the key terms of the pre-bid acceptance deed and on the Takeover Offer.

The Company's Independent Board Committee will assess the terms of the announcement and of any Takeover Offer, and update shareholders in due course.

Inova Resources Limited (ABN 20 107 689 878)

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