de73225f-7da6-4a0d-a6a8-ab9dfa4e905f.pdf
GALAXY RESOURCES LIMITED ACN 071 976 442
(Galaxy) and
GENERAL MINING CORPORATION LIMITED ACN 125 721 075
(General Mining)
BID IMPLEMENTATION AGR EEMENT
T A B L E O F C O NT E NT S
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DEFINITIONS AND INTERPRETATION 4
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Definitions 4
1 .2 Interpretation 1 1
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Next day 12
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Next Business Day 12
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Headings 12
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CO-OPERATION 12
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General obligations 12
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No independent expert required 13
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Access to people and information 13
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Implementation obligations of General Mining 14
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Appointment of directors 14
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THE OFFER 15
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Offer by Galaxy 15
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Consideration 15
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Fractional entitlements 15
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Foreign General Mining Shareholders 15
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Conditions of the Offer 15
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Offer Period 16
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Variation 1 6
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OTHER SECURITIES 16
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General Mining Options 16
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Extension of Takeover Bid 1 6
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DOCUMENTATION AND GENERAL MINING BOARD RECOMMENDATION 16
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Galaxy's obligations to prepare documentation 16
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General Mining's obligations to prepare documentation 1 7
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Provision of Information 1 7
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Directors ' recommendations 17
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Joint Despatch 18
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Timetable 18
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Consent to early dispatch of Bidder 's Statement 18
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CONDUCT OF BUSINESS 18
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Overview 18
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Specific obligations 19
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Prohibited actions 19
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Financial accommodation 20
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EXCLUSIVITY 20
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No existing discussions 20
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No-shop 20
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No-talk 21
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Notice of approach 21
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Notification and Matching Offer 22
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Exceptions to no-talk 22
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Compliance with law 23
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Legal advice 23
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REIMBURSEMENT OF COSTS 23
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Rationale 23
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Payment of Compensating Amount by General Mining 24
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Payment of Compensating Amount by Galaxy 25
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Payment 25
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Exclusive Remedy 25
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Compliance with law 25
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Survival 26
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WARR ANTIES 26
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Galaxy Warranties 26
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Galaxy indemnity 27
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General Mining Warranties 27
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General Mining indemnity 29
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TERMINATION 29
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Termination rights 29
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Termination by Galaxy 29
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Termination by General Mining 30
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Effect of termination 30
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ANNOUNCEMENT OF TAKEOVER BID 30
1 1 .l Public announcement of Takeover Bid 30
1 1 .2 Required Disclosure 30
1 1 .3 Other Announcements 30
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CONFIDENTIAL INFORMATION OBLIGATIONS 31
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l Disclosure of Galaxy Confidential Information 31
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Use of Galaxy's Confidential Information 31
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Disclosure of General Mining Confidential Information 31
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Use of General Mining Confidential Information 31
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Disclosure by recipient of Confidential Information 31
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Excluded Information 32
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Return of Confidential Information 32
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Termination 32
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Termination of existing Confidentiality Agreement. 32
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NOTICES AND OTHER COMMUNICATIONS 32
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l Notices in writing 32
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Details 32
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Change of Address 33
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Receipt of notice 33
14. GOODS AND SERVICES TAX (GST) 33
14. l Consideration does not include GST. 33
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Recovery of GST 33
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Time of payment 33
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Adjustment of additional amount 33
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Reimbursement 34
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Survival 34
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MISCELLANEOUS 34
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Discretion in exercising rights 34
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Partial exercising of rights 34
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No liability for loss 34
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Approvals and consents 34
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Conflict of interest 34
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Remedies cumulative 34
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Variation and waiver 34
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No merger. 34
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Indemnities 35
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Further steps 35
15. 1 1 Construction 35
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Costs 35
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Stamp duty 35
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Assignment 35
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No representation or reliance 35
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Governing law 36
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Counterparts 36
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Knowledge and belief 36
SCHEDULE 1 - TIMETABLE 37
SCHEDULE 2 - CONDITIONS TO THE OFFER 38
SCHEDULE 3 - GALAXY PRESCRIBED OCCURRENCES 41
SCHEDULE 4 - GENERAL MINING PRESCRIBED OCCURRENCES 44
SCHEDULE 5 - GENERAL MINING SECURITIES 46
SCHEDULE 6 - GALAXY SECURITIES 47
SCHEDULE 7 - ANNOUNCEMENT 48
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