11 October 2018
Extension of time to hold AGM
Atlas Iron Limited (Atlas) (ASX: AGO) advises that the Australian Securities and Investments Commission (ASIC) has granted an extension of time for Atlas to hold its 2018 Annual General Meeting (AGM).
Under section 250P of the Corporations Act 2001 (Cth) ASIC has extended the period within which Atlas must hold its AGM to 31 January 2019 (AGM Extension). Consequently, the Atlas AGM will not be held on 29 November 2018.
The off-market takeover bid for all the issued shares of Atlas by Hancock Prospecting Pty Ltd ACN 008 676 417 through its wholly-owned subsidiary, Redstone Corporation Pty Ltd ACN 625 680 159 (Redstone), is scheduled to close at 5.00pm (Perth time) on Friday, 12 October 2018. Redstone has advised that it will not extend the Offer Period.
Redstone has further advised that it has a relevant interest in over 90% of Atlas shares and that this enables Redstone to initiate compulsory acquisition to acquire all of the remaining Atlas shares in which Redstone does not have a relevant interest.
Atlas applied for the AGM Extension because it did not consider it was in the best interests of Atlas shareholders to spend time and funds on the preparation for an AGM given that Redstone may compulsorily acquire all remaining Atlas shares in which it does not have a relevant interest. Consequently, Atlas applied for the AGM Extension, which has now been granted by ASIC.
Redstone has indicated that it will provide Atlas shareholders with further information in relation to the compulsory acquisition process once that process commences.
Investor Enquiries:
Atlas Iron Limited
Company Secretary | +61 8 6228 8000 |
Media Enquiries: | |
Read Corporate | +61 8 9388 1474 |
Paul Armstrong | +61 421 619 084 |
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Atlas Iron Limited published this content on 11 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 October 2018 07:32:08 UTC