🕐26.08.11 - 09:27 Uhr

QMASTOR LIMITED [ASX: QML] - SIGNING OF TAKEOVER BID IMPLEMENTATION AGREEMENT WITH TRIPLE POINT





Fortbridge Media Release

QMASTOR Limited [ASX: QML] - Signing of Takeover Bid Implementation Agreement with Triple Point

The Board of Directors of QMASTOR Limited (ASX: QML) have signed a Takeover Bid Implementation Agreement with Triple Point (Australia) Pty Ltd (TPT).

Under the Agreement, TPT has, subject to satisfactory completion of due diligence, agreed to increase its offer price to $0.31 cents per QML share. After considering the proposal from TPT, the majority of Directors (including the managing director) have agreed to recommend the proposed revised bid, in the absence of a superior proposal, because they believe that in the current state of world markets, shareholders should be given the opportunity to consider whether they wish to accept the increased offer price (assuming satisfactory completion of TPT�s due diligence).

Other key elements of the Agreement include the following:

* TPT will have three weeks to undertake due diligence enquiries in relation to QML, at the end of which TPT must increase its offer price to $0.31 if it is satisfied with the outcome of those enquiries. Until that time there is no certainty that TPT will increase its offer price to $0.31.
QML has agreed to customary no shop, no talk and no due diligence restrictions subject to usual fiduciary carve outs for a superior proposal.

* TPT has agreed that it will, within seven days, extend the offer by a further month, and if it proceeds with the increased offer price, further extend the offer so that it is open for acceptance for a minimum period of one month.

The Agreement does not provide for the payment of any break fee.

The other key terms of the Agreement are summarised in the Annexure to this announcement.

Under the Agreement, TPT must complete its due diligence by 16 September 2011.

Please more in the attached announcement.

For further information, please contact:

Trent Bagnall � Managing Director
Phone: +61 2 4908 2222
Email:
Web:

For media enquiries:

Fortbridge
Phone: +612 9331 0655
Peter-John Lewis: + 61 (0) 416 290 604

Bill Kemmery: +61 (0) 400 122 449




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