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BRIEF-Tian An Australia receives incomplete, non-binding proposal for an off-market takeover from Oasis Star

Published 24/07/2017, 05:17 pm
BRIEF-Tian An Australia receives incomplete, non-binding proposal for an off-market takeover from Oasis Star

July 24 (Reuters) - Tian An Australia Ltd TIA.AX

* Received an incomplete, non-binding and indicative proposal in respect of a proportional off-market takeover from oasis star ltd

* Offer to acquire 80% of each shareholder's issued shares in tia that oasis star does not own at an offer price of a$1.30 per tia share

* Established independent board committee comprised of independent directors of tia to review and assess indicative proposal

* Oasis Star currently has a relevant interest in 34.46% of entire issued share capital of tia

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