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BRIEF-Atlas Iron Gives Mineral Resources 3 Days To Match Hancock's Bid

Published 19/06/2018, 08:51 am
© Reuters.  BRIEF-Atlas Iron Gives Mineral Resources 3 Days To Match Hancock's Bid

June 19 (Reuters) - Atlas Iron Ltd AGO.AX :

* ADVISES SHAREHOLDERS TO TAKE NO ACTION IN RELATION TO HANCOCK OFFER UNTIL THEY RECEIVE FURTHER ADVICE FROM ATLAS BOARD

* BOARD ASSESSED HANCOCK OFFER, HAS DETERMINED THAT IT COULD BE EXPECTED TO LEAD TO SUPERIOR PROPOSAL WHEN COMPARED TO MINERAL RESOURCES

* ISSUED A NOTICE TO MINRES WHICH GIVES IT THREE BUSINESS DAYS TO MAKE A COUNTER PROPOSAL TO HANCOCK OFFER, EXPIRING 21 JUNE

* UNTIL MINRES HAS OPPORTUNITY TO MAKE COUNTER PROPOSAL, DIRECTORS MAINTAIN EXISTING RECOMMENDATION IN FAVOUR OF MINRES SCHEME PROPOSAL

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