Tawana Acquisition Update

2 min read | November 29, 2018 08:30 AM AEDT | By Team Kalkine Media

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The company has for the entrance of Alliance to the official list of ASX and the official quotation of Allianceâs shares, granted Alliance Mineral Assets Limited conditional approval satisfying the ASX listing condition guide to the proposed Scheme of Arrangement between its shareholders and Tawana under which Alliance will acquire 100% of the issued capital of Tawana.

In the Scheme Booklet dated 20 August 2018 and the Supplementary Scheme Booklet dated 8 November 2018, the Scheme remains subject to the approval of the Federal Court of Australia (Court) and certain other conditions as specified. With execution scheduled to occur on 14 December 2018 i.e. Friday, the court will consider the scheme for approval on 3 December 2018 i.e. Monday.

On 7 December 2018 by 5 pm, all Tawana Shareholders are encouraged to return with completely signed RFRD Form. It applies to all shareholders including the ones in Hong Kong, Singapore or New Zealand who are eligible Shareholders under the Scheme.

The RFRD form can be downloaded from the website or can obtain by calling the hotline number. Then what would have been otherwise entitled to be sold by the Sale Agent, Alliance may cause the Alliance Shares and withhold and remit to the Australian Taxation Office 12.5%, of the entitlement to net proceeds of the sale of Alliance Shares by the Sale Agent which is also known as foreign resident tax withholding.

If in case they are a Tawana Shareholder with a registered address outside of Australia, New Zealand, Hong Kong and Singapore (and are not a Dematerialized SA Holder) and do not return the RFRD Form. However, you do not need to return the RFRD Form in case it has been provided to you together with the Scheme Booklet, if the individual is Tawana Shareholder with a registered address in Australia.

Tawana Resources NL (ASX:TAW) trades at a market price of $0.285 with a daily price change of approx. Two percent.

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