Notice

Off-market takeover bid by Longluck Investment (Australia) Pty Ltd (Longluck) to purchase all of the ordinary shares in Cuesta Coal Limited (CQC)

What's this about:
  • ASX Market
  • Clearing
  • Settlement
  • Operations
  • Market Data
  • Compliance
  • Risk
Notice reference number: 0893.16.08
Date published: 01/08/16
Effective as of: 01/08/16
Last updated: 01/08/16

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

Longluck Investment (Australia) Pty Ltd

UIC

11407

Registry/ Agent

Computershare Investor Services Pty Limited

Target Issuer

Cuesta Coal Limited

Target ASX Code

CQC

Takeover Code/ Consideration

CQCNWD – $0.02485 cash  for each CQC share held (Non-Withholding Declaration Made)

CQC001 – $0.02485 cash  for each CQC share held (No Declaration Made)

 

 

Offer Terms

Offer Open Date

1 August 2016

Offer Close Date

7:00pm (Sydney, Australia, time) on 5 September 2016 (unless extended or withdrawn)

 

CHESS will process acceptance messages until 7:00pm (Sydney time) on 5 September 2016 or in the event that the bid is extended, such other time as may be notified by Longluck to the market.

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

Computershare is using CHESS 6.1 Offeror Submitted Takeover messages for this Offer. 

For information regarding the Offer please contact Longluck Offer Information Line on 1300 640 327 (for callers within Australia) or +61 3 9415 4035 (for callers outside Australia).

Need more information?

Issued by

Eldon Hernando, Senior Officer, Post Trade Operations

Contact information

Eldon Hernando
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