13th May 2009 07:00
13th May 2009
Anglo Pacific Group PLC
Offer for Royalco Resources Limited
Anglo Pacific Group PLC ("Anglo Pacific" or "the Company") (LSE: APF, ASX: APG), the natural resources royalties company, has today made an offer via its wholly owned subsidiary Starmont Ventures Pty Ltd to acquire all the outstanding issued share capital in Royalco Resources Limited ("Royalco"), an Australian royalty company listed on the ASX, for 30 cents cash per share.
Anglo Pacific is Royalco's largest shareholder, owning 20% of the existing share capital. Under Australian stock exchange regulations the Company is therefore legally obliged to make this offer for all of the outstanding issued share capital of Royalco in order to be able to continue to purchase Royalco shares in the market.
Royalco is an Australian based royalty and mineral exploration company. In addition to owning a portfolio of royalty interests, Royalco has interests in a number of exploration properties in the Philippines.
Anglo Pacific's offer is being made as an unconditional on-market cash bid which if fully accepted would require an outlay of A$12.6 million. The offer will remain open until 29th June 2009.
The acquisition of Royalco will enlarge Anglo Pacific's presence in Australia and is part of Anglo Pacific's overall strategy of growing its existing royalty portfolio worldwide. For further information and a copy of the bidder's statement please visit Anglo Pacific's website at www.anglopacificgroup.com.
For further information:
Anglo Pacific Group PLC +44 (0) 20 7318 6360
Peter Boycott, Chairman
Matthew Tack, Finance Director
Liberum Capital +44 (0) 20 3100 2000
Simon Stilwell
Chris Bowman
Scott Harris +44 (0) 20 7653 0030Stephen Scott
James O'Shaughnessy
Website: www.anglopacificgroup.com
Related Shares:
APF.L