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Lithium Australia NL advancing Lepidico take-over offer

Lithium Australia has declared the takeover offer to be unconditional.
Lithium Australia NL advancing Lepidico take-over offer
The offer is one LIT share for every 13.25 Lepidico shares

Lithium Australia NL (ASX:LIT) has freed its off-market takeover offer for Lepidico (ASX:LPD) from the defeating conditions set out in the bidder’s statement.

The take-over offer is currently scheduled to close on Tuesday, 18 April 2017, unless extended or withdrawn.

Lithium Australia has released its first supplementary bidder’s statement pursuant to section 647(3)(b) of the Corporations Act.
All parties to the pre-bid acceptance agreements have now accepted the offer under the takeover bid.

Lithium Australia has also received additional acceptances from other Lepidico shareholders.

Accordingly, as of 29 March 2017, Lithium Australia has received acceptances in relation to 17.86% of the Lepidico shares.

This will make Lithium Australia the largest single shareholder in Lepidico.

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