(MENAFN- ProactiveInvestors - Australia) Contango Microcap (ASX:CTN) plans to make a second off-market takeover offer to acquire all of the ordinary shares of Contango Capital Partners (ASX:CCQ) that it doesn't already own at a price of $0.95 a share.
Contango Microcap currently holds 74.8% of Contango Capital's shares as a result of a previous takeover offer last year.
The current offer will be open for a month and will not be subject to any conditions.
A bidders statement is likely to be lodged by January 20.
If Contango Microcap is entitled to do so, it will on completion of the offer period, proceed to compulsory acquire all Contango Capital's shares that are not committed at the price of $0.95 a share.
Contango Microcap manages a diversified portfolio in microcap stocks. As of 30 September 2012, there were 82 securities in the portfolio including Drillsearch Energy (ASX:DLS), Papillon Resources (ASX:PIR), Beadell Resource (ASX:BDR), and Orbis Gold (ASX:OBS).
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