Notice

Off-market takeover bid by Emerald Resources NL (“Emerald” ASX code: EMR) to purchase Renaissance Minerals Limited (“Renaissance” ASX code: RNS) for all of the shares in Renaissance that it does not currently own

What's this about:
  • ASX Market
  • Clearing
  • Settlement
  • Operations
  • Market Data
  • Compliance
  • Risk
Notice reference number: 1019.16.08
Date published: 26/08/16
Effective as of: 26/08/16
Last updated: 26/08/16

This Notice is being issued to provide Participants with further information in relation to the bid and details the acceptance process through CHESS.

What do I need to do by when?

Bid Details:

Bidder:

Emerald Resources NL

UIC:

11411

Registry/Agent:

Security Transfer Registrars Pty Ltd 

Target Issuer:

Renaissance Minerals Limited

Target ASX Code:

RNS 

Takeover Code/Consideration

RNS001 – 1.55 Emerald Shares for every 1 Renaissance Share

 

Offer Terms:

Offer Open Date:

24 August 2016

Offer Close Date:

5:00pm (AWST) on 26 September 2016 (unless extended or withdrawn)

 

CHESS will process acceptance messages until 7:00pm (AEST) on 26 September 2016 or in the event that the bid is extended, such other time as may be notified by Emerald to the market. 

The Emerald bid is conditional and a shareholder may only accept the offer in relation to all of their RNS Units held at the time the acceptance is processed. 

For information regarding the Offer please contact Emerald Offer Information Line on 1300 729 543.

Need more information?

Issued by

Cheng Zhang, Senior Officer, Post Trade Operations

Contact information

Cheng Zhang
1800 623 571
cad@asx.com.au

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.

Disclaimer