19 December 2007
Midwest
shareholder update
The Directors of Midwest
Corporation Limited (“Midwest”)
wish to advise shareholders of the current status of Murchison Metals
Ltd’s (“Murchison”) offer and Sinosteel
Corporation’s
(“Sinosteel”) proposal.
In relation to
Sinosteel’s incomplete, non-binding and conditional proposal for all of
the outstanding shares in Midwest at $5.60 per
share in cash, the Midwest Board continues to
explore the possibility
of a transaction. A dataroom is available, subject to Sinosteel’s
agreement on non-disclosure terms and standstill on acquisition of Midwest’s shares after
the signing of the
non-disclosure agreement.
In relation to
Murchison’s unconditional offer, the offer period has been extended and
the offer is now scheduled to close at 5:00 pm (Perth, Western Australian time) on 23
January 2008 (unless
further extended).
The Directors of Midwest
continue to recommend shareholders to TAKE NO ACTION in relation to
Murchison’s offer.
- End -
For
further information contact:
Martin
Debelle
Warrick
Hazledine
Cannings
Purple
Communications
Ph: + 61
2 9252 0622
Ph: + 61 8
9485 1254
Mob: + 61 409 911 189
Mob: + 61 417 944 616
***
Issued
by
Purple
Communications
Level
3, 28 Kings Park Road, WEST
PERTH WA 6005
Ph:
08 9485 1254 Fax: 08 6263 0455
purple@purplecom.com.au
