Jan 31 (Reuters) - Awe Ltd AWE.AX :
* AWE COMMENCES MATCHING RIGHTS PROCESS
* REACHED IN-PRINCIPLE AGREEMENT WITH MITSUI IN RELATION TO TERMS OF A BID IMPLEMENTATION DEED TO IMPLEMENT MITSUI PROPOSAL
* ASSESSED MITSUI PROPOSAL AND DETERMINED IT IS OR MAY REASONABLY BE EXPECTED TO LEAD TO A SUPERIOR PROPOSAL COMPARED TO MINERAL RESOURCES
* ISSUED NOTICE TO MINRES WHICH GIVES MINRES 3 BUSINESS DAYS TO MATCH MITSUI PROPOSAL, EXPIRING ON FRIDAY 2 FEBRUARY 2018
* IF MINRES DOES NOT MATCH MITSUI PROPOSAL WITHIN THAT PERIOD, AWE INTENDS TO ENTER INTO MITSUI BID IMPLEMENTATION DEED
* ADVISES SHAREHOLDERS TO TAKE NO ACTION IN RELATION TO MITSUI PROPOSAL OR CERCG PROPOSAL
* UNTIL MINRES HAS OPPORTUNITY TO MATCH MITSUI PROPOSAL, DIRECTORS MAINTAIN THEIR EXISTING RECOMMENDATION IN FAVOUR OF MINRES SCHEME PROPOSAL