|Acorn to accept takeover offer for NQM|
|Monday, 20 September 2010 10:17|
Conquest Mining has announced that Acorn Capital has advised its custodians to accept Conquest's takeover offer for North Queensland Metals.
The offer is for Acorn's entire shareholding in NQM totalling 22,123,821 shares (or 11.04 per cent of all the NQN shares).
Conquest currently has a relevant interest in 32.76 per cent of all the NQM shares. This includes acceptances for 9.03 per cent attributable to Acorn - acceptances from Acorn custodians for the remaining 2.01 per cent of Acorn's shareholding have yet to be received.
Acorn's full acceptance, when aggregated with all acceptances received to date, will result in Conquest having a relevant interest in 34.77 per cent of all NQN shares on issue.
Conquest's takeover offer for NQM shares is currently scheduled to close at 7.00pm on October 1, 2010.
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