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Re: [sharechat] Otter gold and takeover offer

From:	"Ken Donelan" <kdonelan@ihug.co.nz>
Date:	Thu, 11 Oct 2001 20:28:47 +1300

GPG have already sold 9.9% of Otter to Normandy so it looks like the offer will go through.

----- Original Message -----

From: nick

To: sharechat@sharechat.co.nz

Sent: Thursday, October 11, 2001 7:32 PM

Subject: [sharechat] Otter gold and takeover offer

Interesting news for otter and GPG shareholders.

As a GPG shareholder its good to see. They had written off their

investment in otter, it now looks like they will be getting something back.

Needs 50.1% backing to go ahead. Will GPG be accepting or

holding out for more?. They dont have 50% but what they decide is

sure to 8nfluence other otter shareholders.

Heres part of the extract below.

Nick

Normandy NFM today announced its intention to launch a takeover offer for
Otter Gold Mines, whereby 1.9 Normandy NFM shares are offered for every 100
Otter shares. Based on the last sale price for Normady NFM yesterday of
$9.30 this offer values each Otter share at 17.67cps. This represents a
premium of 68% to yesterday's closing price for Otter shares of 10.5c.
Normandy NFM will also make a nominal cash offer for the outstanding listed
and unlisted options.

References

[sharechat] Otter gold and takeover offer nick

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