North Kalgurli Bids For Loloma

Press, Volume CX, Issue 32350, 16 July 1970, Page 17

North Kalgurli Bids For Loloma

(N.Z. Press Association—Copyright) SYDNEY, July 15. Loloma Mining Corporation N.L. has received from North Kalgurli (1912), Ltd, a letter of intention to make a take-over offer for all its issued shares.

Consideration would be three North Kalgurli shares fully paid for five shares in Loloma.

The shares to be issued by North Kalgurli would rank equally with the other issued shares in the company. North Kalgurli directors said the offer would be subject to the conditions that between the date of their letter and the completion of the take-over offer Loloma Mining Corporation N.L. does not:

Declare, pay, or distribute by way of dividend, bonus or other distribution any part of its profits or assets other than the dividend of 1.5 c

per share already declared and payable to the shareholders registered on June 19. Issue, allot or agree to issue or allot or graht options over or otherwise make any commitments with respect to any of its shares or effect any alterations in its capital structure or issue or agree to issue any convertible notes. Make any significant change in its investment portfolio or make any loans within a maturity period exceeding 12 months. Enter into any long term or onerous contract or commitment.