haas schreef op 14 december 2011 01:26:
Luxor Capital Announces Premium Offer to Purchase Common Shares of Crocodile Gold
NEW YORK, Dec. 13, 2011 /PRNewswire/ - Luxor Capital Group, LP ("Luxor"), a U.S.-based investment fund manager, announced today that investment funds it manages intend to directly or indirectly initiate an offer (the "Offer") to acquire up to 215,386,435 common shares ("Common Shares") of Crocodile Gold Corp. ("Crocodile Gold"), which, together with the Common Shares already owned and controlled by funds managed by Luxor (collectively, the "Luxor Group"), would constitute approximately 85% of the outstanding Common Shares. The purchase price under the Offer will be Cdn.$0.56 per Common Share in cash.
The Offer represents a premium of 60% to the closing price of the Common Shares on the Toronto Stock Exchange (the "TSX") on December 13, 2011, the last trading day prior to the date of this announcement. It also represents a 61% premium to the volume weighted average trading price of the Common Shares for the last 20 trading days prior to the date of this announcement.
The Offer will be conditional upon there having been validly deposited and not withdrawn a number of Common Shares which, when taken together with the Common Shares already owned and controlled by the Luxor Group, represent at least 50% of the issued and outstanding Common Shares. The Offer will also be subject to other customary conditions and applicable regulatory approvals. The Offer will not be subject to a financing condition. It is the Luxor Group's intention that, following completion of the Offer, the Common Shares will continue to be listed and posted for trading on the TSX.