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Finders is a copper producer with interests in Indonesia.

Finders major shareholder to reject offer

Finders Resources’ second-largest largest shareholder, Taurus Funds Management, has rejected a 23-cents-a-share bid for the copper miner by Indonesian group Eastern Field Developments.

In a statement to the ASX today, Finders said Taurus Funds Management, which holds an 11.3 per cent stake in the company, would not accept the offer. Earlier this week, Finders urged its shareholders to reject the takeover bid after independent expert Deloitte valued the copper miner's shares between 31 and 35 cents.

“Taurus has notified Finders that it does not intend to accept the offer at the offer price of 23 cents per Finders share in respect of the Finders shares that Taurus manages, on the basis that Taurus considers that the offer price does not reflect the fair value of Finders shares,” Finders said.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 30/11/17

1 year TSR5 year TSR
204thFinders Resources55%10%
436thAlkane Resources3%-13%
639thTap Oil-27%-36%
785thTroy Resources-67%-53%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

06/10/17
$10.8m Bought
05/05/17
$175k Bought
17/03/17
$36k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

29th↑Alkane Resources$117.9m
30th↓Tiger Resources$113.2m
31st↑Finders Resources$98.7m
32nd↓Troy Resources$92.2m
33rd↓Tap Oil$88.1m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Finders Resources

234thBarry Cahill$522k
657thGary Comb$142k
1619thGordon Galt$20k
Ranked by total remuneration from all listed WA companies

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