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EMP 0.3¢

emp - takeover on?

  1. xerxes_ph

    9,081 posts.
    Hi Malfunction and EMP followers:

    Below is a copy of the post (compliments od DUB in the wee hours of the morning)

    DRD is a likely suitor for EMP since it already holds some 17% of Emperor's shares. As experts in deep underground mining they would see EMP's massive underground reserves as something they could profitably tap into.

    Here is a copy of DUB's post:

    DRD cashes up ahead of Australasian acquisition

    Michael Quinn

    Tuesday, September 09, 2003
    DURBAN Roodepoort Deep has cashed-up with a US$43.14 million raising and is in discussions regarding the acquisition of an undisclosed asset.

    The funds came from the Investec Group's exercising of a call option on 18 million DRD shares, with the option due to expire next month.

    Chairman and CEO Mark Wellesley-Wood was quoted as being "elated" by the swift exercise of the option, with Investec being granted the option to call a further 9 million shares.

    In terms of the asset being assessed, the only clue was that it's located in Australasia."

    Responding to another matter raised in a separate EMP thread about recent director selling of shares, research has shown that this is nothing to be concerned about in the light of this reply from the company:

    "We are advised by the Director concerned that this transaction was an off-market transfer to split/restructure the existing holding rather than a disposal.

    Please do not hesitate to contact me if I can be of further assistance.


    Andrew J Cooke
    Company Secretary
    Emperor Mines Limited"

    EMP has $1.00+ written all over it IMO

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