Total
Y,
18 OCTOBER 2016 ASX CODE:KAS
OUR PRIME COMMODITY IS TIN
LME TIN PRICE (17/10/16)
USD 19,505 / t
(CASH BUYER)
ABOUT KASBAH
KASBAH IS AN AUSTRALIAN LISTED MINERAL EXPLORATION AND DEVELOPMENT COMPANY.
THE ATLAS TIN JOINT VENTURE (KASBAH 75%, TOYOTA TSUSHO CORP 20% AND NITTETSU MINING CO. LTD 5%) IS ADVANCING THE ACHMMACH TIN PROJECT IN THE KINGDOM OF MOROCCO TOWARDS PRODUCTION.
PROJECTS ACHMMACH TIN PROJECT (75% KAS) BOU EL JAJ TIN PROJECT (100% KAS)
SHARES ON ISSUE:
|
556 M
|
UNLISTED OPTIONS:
|
0.5 M
|
CASH @ 30/06/16
|
$1.2 M
|
CAPITAL STRUCTURE
WORLD BANK (IFC)
|
17.7%
|
AFRICAN LION GROUP
|
15.7%
|
THAISARCO
|
5.6%
|
TRAXYS
|
5.3%
|
MAJOR SHAREHOLDERS
CONTACTS
: + 61 8 9463 6651
: [email protected]
: www.kasbahresources.com
@kasbahresources
ASX RELEASE
COURT APPROVES RELEASE OF SCHEME BOOKLET
AND
ORDERS THE CONVENING OF SCHEME MEETING
Kasbah Resources Limited (Kasbah or the Company) is pleased to announce that the Federal Court of Australia (Court) has today (18 October 2016) approved the despatch of the Company's Scheme Booklet (Scheme Booklet) and has ordered that the Company convene a meeting of its shareholders (Scheme Meeting).
Scheme Meeting
The Scheme Meeting will be held at 10.00am (WST) on Wednesday 23 November 2016 at BDO, The Hay Room, 38 Station Street Subiaco, Western Australia 6008.
The Scheme Meeting has been convened so that Kasbah shareholders can consider and, if thought fit, agree to the proposal by Asian Mineral Resources Limited to acquire all of the ordinary shares in Kasbah by way of a scheme of arrangement (Scheme) under the Corporations Act 2001 (Cth). If the Scheme is implemented, Kasbah shareholders will receive:
-
0.13 AMR share CHESS Depositary Interests (CDIs) and 0.04 AMR warrant CDIs per Kasbah share held, with each CDI representing a beneficial interest in 10 AMR shares or 10 AMR warrants (as applicable); or
-
if so elected, 1.3 AMR shares and 0.4 AMR warrants per Kasbah share held.
Each shareholder's vote is important to determining whether or not the Scheme proceeds. All shareholders registered as at 4.00pm (WST) on 21 November 2016 will be entitled to vote at the Scheme Meeting and are encouraged to do so.
The Board of Directors of Kasbah unanimously recommends that Kasbah shareholders vote in favour of the proposed Scheme, in the absence of a superior offer. Each Director intends to vote in favour of the Scheme with respect to any shares they hold or control, in the absence of a superior offer.
Kasbah shareholders do not need to attend the Scheme Meeting in person to vote as their vote can be made by proxy by completing the personalised proxy form mailed to shareholders. All proxy forms must be received by the Company's share registry by no later than 10.00am (WST) on 21 November 2016 in accordance with the directions in the proxy form.
Release of Scheme Booklet
The Scheme Booklet, a personalised proxy form, election form and notice for the Scheme Meeting, will be released on the ASX following registration with the Australian Securities and Investments Commission and will be available on the Company's website at www.kasbahresources.com.
Kasbah shareholders should carefully read the Scheme Booklet in its entirety and the material accompanying it before deciding whether to vote in favour of the Scheme.
Second Court Hearing
In the event that the Scheme is approved at the Scheme Meeting and all conditions of the Scheme are satisfied or waived, the Company will apply to the Court for orders approving the Scheme.
Indicative Timetable*
Event
|
Date
|
Despatch of Scheme Booklet to shareholders
|
24 October 2016
|
Latest time and date for lodgement of completed Proxy Form for the Scheme Meeting
|
10.00am (WST) on
21 November 2016
|
Time and date for determining eligibility of Kasbah Shareholders to vote at the Scheme Meeting
|
4.00pm (WST) on 21 November 2016
|
Time and date of the Scheme Meeting
|
10.00am (WST) on
23 November 2016
|
Court hearing for approval of the Scheme
|
6 December 2016
|
Effective Date of the Scheme
|
7 December 2016
|
Last date of trading of Kasbah Shares on ASX
|
7 December 2016
|
Record Date for determining entitlements to the Scheme Consideration
|
14 December 2016
|
Deadline for receipt of Election Forms from Kasbah Shareholders, electing to have their Scheme Consideration issued on the Canadian register.
|
5.00pm (WST) on 14 December 2016
|
Implementation Date for the Scheme and issue of the Scheme Consideration
|
21 December 2016
|
Despatch of holding statements and advices for AMR Securities issued under the Scheme
|
21 December 2016
|
AMR Share CDIs and AMR Warrant CDIs begin trading on ASX.
|
22 December 2016
|
* The above dates are indicative only and are subject to change.
The Company will continue to keep shareholders updated on the status of the Scheme as the timetable progresses.
If you have any questions on the Scheme or require further information, please contact the the Kasbah Shareholder Information Line on +61 1800 220 771 anytime between 9.00am and 5.00pm (WST) Monday to Friday.
On behalf of the Board
Wayne Bramwell Managing Director
For further information please visit: www.kasbahresources.com
Or email: [email protected]
Or follow us on Twitter: @kasbahresources