01 December 2014
SEMAFO Inc Bidder 's Statement Received
Orbis Gold Limited ("Orbis Gold" or "the Company") advises that it has today received a Bidder's Statement from SEMAFO Inc. ("SEMAFO") in relation to its unsolicited offer to acquire 100% of Orbis Gold's issued ordinary shares for cash consideration of A$0.65 per share (the "Offer").
As previously announced to the market on 16 October 2014, the Offer is conditional and subject to minimum acceptance by 50.1% of Orbis Gold shareholders.
Orbis Gold will shortly release its Target's Statement to shareholders in response to SEMAFO's Bidder's Statement. The Target's Statement will contain all the information Orbis Gold shareholders will need to consider the Offer as well as the key reasons for the Board's recommendation.
Orbis Gold and its advisers continue to be in active discussions with third parties regarding superior alternatives to SEMAFO's proposed Offer. The Board will advise shareholders of any developments in this regard, if any, in due course.
Mr Peter Spiers
Managing Director
Ph: +61 (0)7 3198 3042
Mob: +61 (0)409 407 265
Mr Peter Harding‐Smith
Company Secretary
Ph: +61 (0)7 3198 3043
Mob: +61 (0)488 771 588
Merrill Lynch Markets (Australia) Pty Limited Nick Chappel
Director
Ph: +61 (2) 9226 5347
Mob: +61 (0) 427 406 670
Maxit Capital LP
D. Bob Sangha
Chief Executive Officer
Ph: +1 416 646 7877
MAGNUS Corporate and Financial Communication John Gardner
Ph: +61 (0)413 355 997
Matthew Gerber
Ph: +61 (0)419 423 405
Further information on Orbis Gold can also be found on our website www.orbisgold.com
ASX Code: OBS 1 www.orbisgold.com
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