All tagged Eastern Field Developments ASX:FND

US$21m Wetar project facility repaid: Finders

Finders Resources (FND: ASX) subsidiary PT Batutua Tembaga Raya has completed the final payment of the senior secured project facility for the Wetar Copper Project. US$21.0 million was outstanding under the Facility at the time of payment. The mandatory hedging under the Facility has also been closed-out and settled. Finders now has no copper hedging.

Eastern Field sets April 5 as end of $181m Finders takeover bid

Indonesian consortium Eastern Field Developments has set April 5 as the likely deadline for its long-running $181 million cash takeover of Finders Resources (ASX: FND), which has been held up by a lengthy legal process. Eastern Field's decision came after a judgment was handed down in the Federal Court on Friday rejecting a challenge to an earlier Takeovers Panel ruling. As a result of the judgment, Eastern Field will have an option to acquire Taurus Funds Management's 11.3%, cementing its stake of about 97% in the takeover target. Eastern Field is expected to follow up with the compulsory acquisition of remaining minority shareholders, also at the 23c a share bid price. Unless there is an appeal to the Federal Court judgment, Eastern Field will end its takeover offer on April 5.

Eastern Field Developments Ltd - Extension of Offer Period and Change in Substantial Holding

Eastern Field Developments has extended the deadline for acceptance of its $178 million cash takeover offer for Indonesia-focused copper producer Finders Resources (ASX: FND) until March 23. The bid extension comes as Eastern Field announced today its stake in Finders had increased to 33.8% following a surge of aceptances and on-market buying.  Eastern Field is offering 23c cash per Finders share, compared with the target's prevailing share price of 22.7c.