- SEMAFO’s Offer is currently scheduled to close on 6 February 2015 and SEMAFO may further extend
- Despite the Company’s efforts, to date no superior offer has emerged to SEMAFO’s existing $0.65 per share bid
- In order to meet on-going financial commitments, Orbis intends to pursue a potential capital raising to raise working capital provided SEMAFO does not have a relevant interest in more than 50% of Orbis shares by 6 February 2015
- Orbis continues to pursue value enhancing alternatives and Shareholders are being afforded the opportunity to effectively choose between the SEMAFO Offer or supporting the Company’s proposed capital raising.
As Shareholders would be aware, on 16 October 2014 SEMAFO Inc (SEMAFO) announced its intention to make an off-market takeover offer for all of the shares in Orbis Gold Limited (Orbis or the Company) for cash consideration of $0.65 per share (Offer). This followed an unsolicited approach made immediately prior to the release of Orbis’ Updated Scoping Study for Natougou.
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