Wednesday, June 11, 2014

Viking Mines Chairman Buys On-Market as Auminco Takeover Stalls

June 11 (Cover Mongolia) According to a director’s interest notice filed today, Viking Mines Ltd. (ASX:VKA) Non-Executive Chairman Mr. John William Gardner acquired 26,667 shares on the exchange at A$0.04 on June 5 for a total A$1,066.68 consideration.

The purchase comes amidst Viking Mines’ ongoing takeover bid to acquire unlisted Auminco Mines, a Mongolia-focused exploration company, in share deal. The deal will make Auminco shareholders ending with 58% of the enlarged company. Takeover acceptance has surpassed 97% level as of May 15 but Viking has still not declared the offer final and therefore can still rescind the takeover bid, as the Offer Conditions has not been unfilled as of May 28, according to a filing.

Announcement was made after today’s market close. VKA closed unchanged today at A$0.04.

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