Prompts changes in Ticor and Magnetic Minerals Agreements

Ticor Resources Pty Ltd and Magnetic Minerals Limited directors have agreed to amend the terms of agreements under which the directors were required to accept a takeover bid by Ticor. The changes follow ASIC concerns that one clause in the agreement advantaged Magnetic directors, in the event of a higher bid. This clause stipulated the directors would receive additional payment (above the $0.55 per share) in the event Ticor sold the shares purchased from the directors into a higher bid. However such a payment was not available to other Magnetic shareholders. Ticor announced a takeover bid for Magnetic in December 2002, and the bidder


(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

BNIQ sponsored byECU School of Business and Law


6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
49 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer