Indicative Takeover Proposal Update
Brisbane, Jan 8, 2013 AEST (ABN Newswire) - WestSide Corporation Limited (
ASX:WCL) advises that it is continuing to progress discussions with the party which submitted an indicative, conditional, non-binding and confidential proposal on 19 November 2012.
The proposal involves the acquisition of 100 per cent of the shares in WestSide for cash consideration of 52 cents per share. However, uncertainty remains as to whether any binding proposal which might be acceptable to the WestSide Board will eventuate.
The Board reiterates its earlier advice that shareholders take no action at this time.
WestSide will keep the market informed of any material developments in accordance with its disclosure obligations.
Contact
WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com
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