29 August 2008
The Manager
Company Announcements Office
ASX Limited
Level 4
20 Bridge Street
Sydney NSW 2000
Macmahon?s Institutional Acceptance Facility Places Ausdrill Shareholders at Risk
Macmahon?s First Supplementary Bidder?s Statement contains details of an Institutional Acceptance Facility (IAF).
Ausdrill shareholders who are eligible to participate in the IAF should be aware of the significant risk attached to using the IAF. While Macmahon?s all scrip bid is at present subject to a 50.1% minimum acceptance condition, the IAF is not expressed to be subject to a similar condition.
If the aggregate of acceptances under Macmahon?s offer and instructions under its IAF is less than 50% and Macmahon waives all of its bid conditions, then shareholders who have issued instructions under the IAF will be deemed to have accepted the offer, and will be issued shares in Macmahon notwithstanding that it holds less than 50% of Ausdrill.
Macmahon?s offer is open until at least 16 September 2008. Ausdrill shareholders are encouraged to avoid participating in the IAF given the substantial risk associated with it. Any shareholders who have already issued instructions are encouraged to withdraw them immediately.
Shareholders who have any questions concerning Macmahon?s Offer can call Ausdrill?s Shareholder Information Line on 1800 104 758 or from outside Australia on +61 2 8268 3691.
For further information
Visit: www.ausdrill.com.au
Or contact:
Media inquiries:
Caroline de Mori
Purple Communications
0418 919 064
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