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BRIEF-Macphersons Resources Says Co And Intermin Resources To Merge

Published 11/12/2018, 09:56 am
Updated 11/12/2018, 10:00 am
© Reuters.  BRIEF-Macphersons Resources Says Co And Intermin Resources To Merge

Dec 11 (Reuters) - Macphersons Resources Ltd MRP.AX :

* MACPHERSONS AND INTERMIN AGREE TO MERGE

* MERGER IS UNANIMOUSLY RECOMMENDED BY BOARD OF MACPHERSONS IN ABSENCE OF A SUPERIOR PROPOSAL

* INTERMIN AND MACPHERSONS EXECUTED MERGER IMPLEMENTATION AGREEMENT TO PROGRESS PROPOSED COMBINATION OF 2 COMPANIES

* MERGER IS UNANIMOUSLY RECOMMENDED BY THE BOARD OF MACPHERSONS IN THE ABSENCE OF A SUPERIOR PROPOSAL

* INTERMIN RESOURCES TO OFFER 1 INTERMIN SHARE FOR EVERY 1.8227 MACPHERSONS RESOURCES SHARES HELD

* MERGED ENTITY WILL BE LED BY INTERMIN MANAGING DIRECTOR JON PRICE

* PROPOSED OFFER VALUES MACPHERSONS AT ABOUT A$0.0825 PER SHARE

* COMBINED ENTITY INTENDS TO START FEASIBILITY STUDY FOR INTEGRATED DEVELOPMENT OF COMPANIES' RESPECTIVE EXISTING GOLD PROJECTS

* INTERMIN CHAIRMAN PETER BILBE WILL BE NON-EXECUTIVE CHAIRMAN OF MERGED ENTITY

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