19 August 2009
Avoca at 36..46 %
following Baker Steel acceptances
ASX200 gold producer, Avoca
Resources Limited (ASX:AVO) (Avoca) announces that its relevant interest
in Dioro Exploration NL (Dioro)
shares has increased to 36.46% following receipt of acceptances
representing 10,491,240 Dioro shares from Baker Steel
Capital Managers LLP (Baker Steel), Dioro’s
second largest shareholder after Avoca.
Baker Steel is a specialist
investment manager in gold and natural resources. By accepting Avoca’s
Offer, Baker Steel has realised the benefits of becoming an Avoca shareholder
and combining the operations of Avoca and Dioro.
In addition, this is a clear demonstration by an educated and sophisticated
investor that it considers the Avoca Offer to be SUPERIOR
to the proposed Ramelius offer.
Avoca Chairman Robert
Reynolds said that Baker Steel, as the next largest shareholder
in Dioro after Avoca, has clearly recognised the
compelling logic of accepting Avoca’s offer and rejecting Ramelius inferior proposed offer.
As we have previously stated,
Avoca’s offer is far superior to the proposed Ramelius
offer, Mr Reynolds said.
We encourage all Dioro shareholders to ACCEPT Avoca?s offer before they miss out.?
By joining Avoca, Dioro shareholders will be part of an ASX 200 Company with
the credentials to become Australia’s
pre-eminent mid-tier gold producer.
Avoca’s offer is due
to close at 5:00pm (Perth time) today.
In order to accept by this time, CHESS sponsored Dioro
shareholders will need to urgently instruct their broker to accept on
their behalf. Issuer sponsored holders will need to deliver their
acceptance form to Security Transfer Registrars Pty Ltd either by fax
(+61 8 9315 2233), scan/email (registrar@securitytransfer.com.au) or hand delivered to 770 Canning Highway, Applecross WA
6153.
For further enquiries, please
contact:
Avoca Resources: Rohan Williams 08 9226 0625
Purple
Communications: Warrick
Hazeldine 08 6314 6300 / 0417 944 616
Purple
Communications
Level 3, 28 Kings Park Road, WEST
PERTH
WA 6005
Ph: 08 6314 6300 Fax: 08 6314 6355
purple@purplecom.com.au