Target's Statement

On 19 August 2019, Alliance Resources Ltd (Alliance) received an off-market takeover offer by Gandel Metals Pty Ltd (Bidder) to acquire all of the shares in Alliance at an Offer price of $0.14 per share.

As required by the Corporations Act, a copy of Alliance's Target's Statement was lodged with ASIC and sent to the Bidder on 10 September 2019.  The Statement is accompanied by an Independent Expert's Report (including an Independent Technical Report).

The independent directors recommend that shareholders accept the Offer in the absence of a superior offer.  The independent directors encourage shareholders to read the Target's Statement in full, in which they make some observations which may be relevant to any shareholders who have an atypical risk appetite or a long investment horizon.

The bid is now closed as of Monday, 14 October 2019 at 7pm (AEDT).

Alliance is being advised by HWL Ebsworth Lawyers.