Universal Coal Plc (ASX: UNV)- Independent Directors Nodded Big Yes To The Takeover Offer From Ata Resources Led Consortium

  • Sep 26, 2018 AEST
  • Team Kalkine
Universal Coal Plc (ASX: UNV)- Independent Directors Nodded Big Yes To The Takeover Offer From Ata Resources Led Consortium
Listed coal mining company Universal Coal Plc announced the receipt of non-binding indicative offer from Ata Resources led consortium. The offer proposes to acquire 100% of Universal Coal for all cash transaction of $0.35 per UNV share. Ata Resources Proprietary Limited is a private entity incorporated in South Africa. The takeover is proposed to be affected by way of scheme governed by the regulations of the United Kingdom. However, the offer does not place any certainty for the confirmation of the scheme or that the acquirer Ata Resources and the Consortium will successfully raise funds required to close the deal. The disclosure of the possible acquisition of Universal Coal by Ata Resources led consortium was first announced by UNV on 18 September 2018, thereby witnessing a significant rise in share price and trading volume of Universal’s stock. But this non-binding indicative offer (NBIO) remains subject to UNV’s shareholders approval and subsequent delisting of the Universal Coal securities from Australian Securities Exchange.  In today’s update to the previously announced NBIO, the Independent Directors of Universal Coal suggest that this acquisition bid is in the best interest of the Universal Coal’s shareholders subject to few caveat changes as deemed fit. Prima facie it may look that Directors are just going to accept the bid but rather it could be a masterful move to trigger better offers coming into the play. Taking the offer forward, Universal has agreed to provide an access of company’s limited information to Ata Resources for its confirmatory financial review of UNV. Universal Coal’s share price plunged 3.125% to last trade at 0.310 on 26 September 2018. The stock has seen a performance change of attractive +93.94% over the past one year. While it most recently traded at a PE of 6.970 x with the market capitalization of $167.19 million.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK