By Phil Boeyen, ShareChat Business News Editor
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Friday 17th May 2002 |
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Bell already holds or controls 44.44% of the shares in eVentures. The trustees of Bell are Craig Heatley, Hayley Pyle and David Tetro.
Shareholders in eVentures will need to approve the offer and also "resolve to place the company in liquidation as soon as practicable after the takeover offer closes."
Bell is offering 60 cents for each eVentures share - the same price the company floated at two years ago.
"The offer is open to those shareholders of eVentures who acquired, as registered holder, no more than 10,000 shares in the IPO and who remain on the register in respect of those shares," Bell Trust says.
"It is expected that the offer will be to approximately 300 shareholders holding 2.09% of eVentures' shares. It is intended that the offer will be sent to shareholders immediately upon the resolutions approving the takeover offer and liquidation being passed and that the offer will remain open for two weeks."
Independent sub-committee chairman, Stephen Tindall, says the board has been considering eVenture's future for some time and Craig Heatley's gesture to founding shareholders provides the right opportunity for the company to consider liquidation and a return of capital to shareholders.
eVentures says it will consider the offer and appoint an independent adviser as soon as possible, with a view to putting the proposals to shareholders at the annual meeting at the end of June.
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