Shares in Western Australian plantation timber manager Integrated Tree Cropping Ltd recommenced trading on the Australian Stock Exchange today.
The company was also granted an extension of time to serve its target's statement regarding the takeover bid by Hatmore Pty Ltd.
ITC's suspension from trading was lifted today clearing the way for it to resume trading on the ASX.
The company continues to advise shareholders to take no action in relation to the takeover offer by Futuris subsidiary Hatmore until they have received the target's statement.
Last Friday Hatmore increased its takeover bid for ITC and extend the offer period until June 30.
Hatmore increased the cash component of its offer from $1.30 to $1.35 for each ITC share.
The scrip consideration under the offer will remain unchanged, but ITC shareholders who had already accepted the offer will be entitled to make a fresh election as to which consideration (cash or scrip) they would receive.
ITC announced a trading halt to its shares last Wednesday, and then a voluntary suspension of shares after the trading halt was lifted.
Futuris already holds a 55 per cent interest in ITC.
ITC has more than 140,000 plantation hectares under management across all mainland states, and is also the country's largest timber processor.
