Friday May 4 2018

News Source: Global Disclosures

Focus: Takeover and Acquisition

Type: General

Country: Australia




ASX has provided Participants with further information in relation to the bid and details the acceptance process through CHESS.

ASX Settlement Participants are advised that the code of the takeover facility for the Mercantile OFM proportional off-market bid for Bauxite Resources Limited has been updated from BAU001 (refer to notice #1548.17.12) to BAU002.

Anyone who wishes to accept into the Mercantile OFM offer is advised to use the details below. Exact offer details are provided in the bidder’s statement, market announcements, and previous ASX notices. 

Bidder

 Mercantile OFM Pty Ltd
UIC 11489
Registry/ Agent Link Market Services Limited
Target Issuer Bauxite Resources Limited
Target ASX Code BAU
Takeover Code/ Consideration BAU002

 
Offer Close Day 21 May 2018

General Information

Participants should refer to Section 13 of the CHESS Procedure Guidelines for Participants and Section 14 of the ASX Settlement Operating Rules for further information concerning the processing of Takeover Acceptance Messages for a CHESS Holding of securities. Some of these issues are summarised below.

  • A Participant must initiate acceptance of an offer by transmission of an EIS type ‘031’ message (Takeover Acceptance) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘032’ message (Effected Takeover Acceptance) from CHESS in response.
  • In addition to the electronic notification to the Participant, paper notification will be sent directly to the Holder as securities are reserved in an offer-accepted subposition. Any change to the balance of securities in subposition will generate further electronic advice to the Participant and paper advice to the Holder.
  • Where a Participant receives instructions from a Sponsored Holder, the Participant is required under the ASX Settlement Operating Rules to initiate acceptance of an offer:
  • if the Holder specifies the time when or by which the offer must be accepted, in accordance with those instructions; otherwise
  • by End of Day on the date of receipt of instructions from the Holder. Where the offer closes on the date of receipt of instructions then prior to the close of the offer.

Participants should therefore retain, as a minimum, a record of the date on which instructions to accept an offer are received from a Sponsored Holder.