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Takeovers - Jan 18

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ARI, OGC, AQG, RCT, SYD,

AAP

January 18 2013, 12:56AM

DISCOVERY METALS LTD (DML): Cathay Fortune Investment Ltd (Cathay) is offering for all the shares in the company. Consideration is $1.70 cash per share. Conditional on 51% share acceptance. FIRB, BCA and MOFCOM approvals have been received. DML Directors recommend shareholders reject the offer and intend to do the same in regard to their own shareholdings. Independent advice concludes the offer is neither fair nor reasonable. Cathay is now entitled to 14.41% of the voting power in DML. The offer is extended to remain open until 8 February 2013.

ENGENCO LTD (EGN): Elph P/L is offering for all the shares in the company. Consideration is $0.18 cash per share. The offer is unconditional. EGN Directos don't intend to make a recommendation until an independent expert has reviewed the offer. Elph is now entitled to 37.60% of the voting power in EGN. The offer remains open until 28 February 2013.

FIRESTONE ENERGY LTD (FSE): Range River Gold Ltd (RNG) is offering for all the shares in the company. Consideration is 1 RNG share for every 2 FSE shares held. Conditional on 50.1% share acceptance, shareholder and various regulatory approvals. FSE Directors unanimously recommend shareholders take no action until further advised.

GLOBE INTERNATIONAL LTD (GLB): Mariner Corporation Ltd (MCX) is offering for all the shares in the company. Consideration is 5 MCX shares for every 4 GLB shares held. The offer is conditional but there is no minimum acceptance condition. GLB Directors unanimously recommend shareholders reject the offer and intend to do the same in regard to their own shareholdings. The offer is extended to remain open until 15 February 2013.

L & M ENERGY Ltd (LME): New Dawn Energy Ltd (NDE) is offering for all the shares in the company. Consideration is $0.06 cash per share. The offer is now unconditional. Directors unanimously recommend shareholders accept the offer in the absence of a better offer. NDE is now entitled to 90.00% of the voting power in LME and proceeding with compulsory acquisition of all outstanding shares. The offer is extended to remain open until 31 January 2013.

LINQ RESOURCES FUND (LRF): IMC Resources Holdings P/L (IMC) is offering for all the units in the company. Consideration is $0.70 cash per unit. Consideration will be increased to $0.72 cash per unit if 90% unit acceptance is reached. Conditional on 90% unit acceptance. FIRB approval received. LRF Directors unanimously recommend unitholders accept the offer in the absence of a better offer and have done so in regard to their own unitholdings. IMC is now entitled to 67.40% of the voting power in LRF. The offer is extended to remain open until 28 January 2013.

NEPTUNE MARINE SERVICES LTD (NMS): MTQ Corporation Ltd (MTQ) is offering for all the shares in the company. Consideration is $0.032 cash per share. The offer is now unconditional. NMS Directors recommend shareholders accept the offer in the absence of a better offer and intend to do the same in regard to their own shareholdings. Independent advice concludes the offer is fair and reasonable. MTQ is now entitled to 79.61% of the voting power in NMS. The offer is extended to remain open until 18 Januray 2013.

WENTWORTH HOLDINGS LTD (WWM): Australian Renewable Fuels Ltd (ARW) is offering for all the shares in the company. Consideration is 5.7 ARW shares for each WWM share held. Conditional on 90% share acceptance and WWM maintaining a net cash balance above $14 million before offer close. Directors unanimously recommend shareholders accept the offer in the absence of a better offer and have done so in regard to their own shareholdings. Independent advice concludes the offer is both fair and reasonable. The offer remains open until 1 February 2013.

WILSON HTM INVESTMENT GROUP LTD (WIG): Mariner Corporation Ltd (MCX) is offering for all the shares in the company. Consideration is 2 MCX shares for every 3 WIG shares held. Conditional on regulatory approvals. WIG Directors continue to unanimously recommend shareholders reject the offer and intend to do the same in regard to their own shareholdings. The offer is extended to remain open until 15 February 2013.

Sourcedata: ASX