Atlas Iron Limited Announces Final Court Approval On The Aurox Resources Scheme Of Arrangement
12.08.2010 | ABN Newswire
14:09 AEST Aug 12, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - Atlas Iron Limited (ASX: AGO) and Aurox Resources Limited (ASX: AXO) (PINK: AUOXF) are pleased to report that the Federal Court of Australia has earlier today approved the scheme of arrangement between Aurox and its shareholders.
Aurox will now proceed to extract the Orders from the Federal Court and intends to lodge the Orders with the Australian Securities and Investments Commission ('ASIC') tomorrow, Friday, 13 August 2010.
Tomorrow will be the last day of trading for Aurox and suspension of trading in Aurox securities will occur on ASX at the close of trading on Friday, 13 August 2010.
Assuming that trading in Aurox shares is suspended on Friday, 13 August 2010, the timetable for the completion of the Merger is as follows.
Scheme Effective Date. Suspension of Aurox Shares from trading
- 13 August 2010
Trading of New Atlas Shares on ASX on a deferred settlement basis
- 16 August 2010
Record Date for determining entitlements to Scheme Consideration
- 5.00pm (WST) on 20 August 2010
Scheme Implementation Date - Issue of New Atlas Shares to Scheme Participants
- 24 August 2010
Dispatch of holding statements for New Atlas Shares
- 24 August 2010
Trading of New Atlas Shares on ASX on a normal T+3 settlement basis 25 August 2010
All dates are indicative only and may change without notice.
The Boards of both Atlas and Aurox welcome the Court's approval of the Merger and look forward to the ongoing success of the merged company.
About Atlas Iron Limited:
Atlas Iron Limited (ASX:AGO) is an emerging producer and active explorer focused on the discovery and development of iron ore projects. With a growing number of high quality iron ore projects and one of the largest landholdings in the Pilbara (8,900km2) located close to infrastructure, the Company has created a successful business by targeting resources and reserves capable of being mined with relatively low capital expenditure.
Contact:
David Flanagan, Managing Director
Atlas Iron Limited
Tel: +61-8-9476-7900
www.atlasiron.com.au
Charles Schaus
Managing Director
Aurox Resources Limited
Tel: +61-8-9382-4477
www.aurox.com.au
