The board of Universal Coal plc published an ASX announcement informing investors that it has received an unsolicited, non-binding and conditional bid for 100% of its issued shares at an offer price of A$35c a share.
The full text of this announcement can be read at www.universalcoal.com.
Ichor Coal N.V. owns 29% of Universal Coal.
Should the IchorCoal management and supervisory boards – after due consideration – deem the offer to be attractive and in the best interests of the company, it will be tabled for approval at a shareholder meeting to be convened for this purpose.