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MENAFN - ProactiveInvestors - Australia - 17/11/2012

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Neptune Marine Services urges no action on Singapore takeover offer
(MENAFN - ProactiveInvestors - Australia) Neptune Marine Services (ASX: NMS) has advised its shareholders to take no action in regards to the takeover offer from its substantial shareholder MTQ Corporation Limited (MTQ) of Singapore.

The company is currently preparing a Target's Statement, which will be released on or before 30 November 2012, that includes an Independent Expert's Report prepared by BDO Corporate Finance.

MTQ subsidiary Blossomvale had made a proposal to acquire all the shares of Neptune it does not own, at a cash price of 0.032 per share.

 






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