Monday, June 16, 2014
Viking Mines Chairman Continues On-Market Purchases as Auminco Takeover Continues to Stall
June 16 (Cover Mongolia) Change of Director’s Interest Notice filed today reveals Viking Mines Ltd. (ASX:VKA) Non-Executive Chairman Mr. John William Gardner has bought a further 38,333 shares at A$0.04 a share on 12 June, on top of the 26,333 shares bought on 5 June at the same price.
These purchases come amidst Viking Mines’ ongoing takeover bid to acquire unlisted Auminco Mines, a Mongolia-focused exploration company, in a 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 as the Offer Conditions has not been unfilled as of May 28, and therefore can still rescind the offer, according to a filing.
VKA last traded at 4 cents on Friday.