Highlights
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TIO announces improved all-cash unconditional takeover offer of $0.025 (2 and a half cents) cash per Flinders Share (Improved Offer Price).
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The Flinders Board unanimously recommends that Flinders Shareholders ACCEPT the improved offer, in the absence of a Superior Proposal.
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The Improved Offer Price represents a significant premium of 213% to the closing price and the VWAPs of Flinders Shares before TIO announced its initial takeover offer on 17 March 2016.
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The Improved Offer Price is best and final and will not be increased, in the absence of an alternative proposal or competing proposal from a third party.
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The Improved Offer Price is also 92% higher than TIO’s Initial Offer price and values Flinders at $73.8 million.
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The Improved Offer Price provides compelling value, certainty and prompt payment for Flinders Shareholders.
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The improved offer will close at 7.00pm (Sydney time) on 6 June 2016 (unless extended or withdrawn).
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