Cokal requests another share suspension extension

TAKEOVER target Cokal has requested another extension of its suspension of shares on the Australian Securities Exchange as negotiations with Indonesian group PT Cakra Mineral Tbk continue.
Cokal requests another share suspension extension Cokal requests another share suspension extension Cokal requests another share suspension extension Cokal requests another share suspension extension Cokal requests another share suspension extension

 

Lou Caruana

Cokal’s securities have previously been suspended from quotation until 11 January 2016, or until an earlier announcement is made regarding clarification by Cakra of its intention to make a further takeover offer to acquire all of the shares of the company.

“The company is however not in a position to make the anticipated announcement because, although Cakra’s current offer closed on 15 November 2015, there are continuing and active discussions between the company and Cakra of a confidential and incomplete nature in relation to Cakra's intention and capacity, including subject to Indonesian regulatory approval, to make a new takeover offer for the company,” Cokal said in a statement.

“Further, the company is engaged in active discussions of a confidential and incomplete nature in relation to potential competing transactions if Cakra does not have the intention or capacity to make a new takeover offer for the company.”

Cokal has asked the new suspension to continue to the commencement of trading on Friday 15 January 2016, or until an announcement is made.

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