Major shareholders of QML reject TPT offer and
prevent 90% condition from being met
July 8, 2011
The Board of Directors of QMASTOR Limited (ASX: QML) note that major shareholders in
QML have reconfirmed their rejection of the takeover offer (Offer) from Triple Point
Technology (TPT) in reference to the second Supplementary Bidder’s Statement issued
by TPT on 7 July 2011.
As Triple Point Technology has continued to condition the takeover Offer on a 90%
acceptance, the Board of Directors of QML note that the two major shareholders,
accounting for more than 10% of the share register, have rejected the takeover offer
and that as a result the 90% condition cannot be met.
On 8 July 2011, and in reference to the second Supplementary Bidder’s Statement
issued by TPT on 7 July 2011, Microequities Asset Management (7.1% shareholder in
QML) and Coal Link Investments Pty Ltd (3.9% in QML) have again formally rejected the
takeover offer from TPT.
Both shareholders have also advised the market that on the basis of their rejection they
understand that the TPT 90% acceptance condition of QMASTOR shareholders for the
TPT Offer cannot be met.
The media releases of the two major QMASTOR shareholders date 8 July 2011 are
attached.
QML intends issuing the Target’s Statement later this month in which it will provide in
full detail the position of the Directors and the formal recommendation in relation to the
Offer. QML shareholders are advised to take no action in relation to the Offer or any
approach from, or document received from TPT until they receive the Directors’ formal
recommendation in relation to the Offer.
About QMASTOR Limited
QMASTOR Limited (ASX: QML) is a market leader in the provision of specialist
management information systems and services to the global mining, port, power
generation and other bulk commodity industries. QMASTOR has pioneered innovative
solutions to empower clients to improve their operations and maximise profit through
the efficient use of resources across the supply chain.
For further information contact:
Trent Bagnall – Managing Director
Phone: +61 (2) 4908 2222
Email: [email protected]
Web: www.qmastor.com
Coal Link Investments ACN 136825646 14A William Street Raymond Terrace New South Wales 2324 COAL LINK INVESTMENTS AGAIN REJECTS TAKEOVER OFFER FOR QMASTOR (ASX QML) July 08, 2011 Coal Link Investments Pty Ltd (Coal Link), a major shareholder in mining software developer QMASTOR Limited (ASX: QML), has today reconfirmed its earlier rejection of the off market takeover bid by US based Triple Point Technology Inc (TPT) for QMASTOR. Coal Link Investments currently hold a 3.9% shareholding in QMASTOR. In a supplementary bidders statement yesterday TPT stated they were not aware of certain QML shareholders making a definitive and unqualified statement that they will not accept the (23 cent) Offer. Mr John Hughes said that “While Coal Link finds this statement hard to believe, given the amount of media coverage on the subject, (and the Coal Link media release below) Coal Link again unequivocally rejects outright the 23 cent offer and will therefore not be accepting the offer. Coal Link also notes that Microequities Asset Management, whose combined holding with Coal Link investments exceeds 10% of the QMASTOR share register, has again rejected the offer. Therefore Coal Link Investments understands that the 90% acceptance condition by TPT on the offer can not be met and TPT must urgently provide a supplementary bidders statement advising shareholders this condition cannot be met. For further information: Fortbridge Consulting Bill Kemmery 0400 122 449 Peter – John Lewis 0416 290 604 COAL LINK INVESTMENTS REJECTS TAKEOVER OFFER FOR QMASTOR (ASX QML) July 01, 2011 Coal Link Investments Pty Ltd, a major shareholder in mining software developer QMASTOR Limited (ASX: QML), has today rejected the off market takeover bid by US based Triple Point Technology Inc (TPT) for QMASTOR. Coal Link Investments currently hold a 3.9% shareholding in QMASTOR. Mr John Hughes said that TPT’s offer price of $0.23 per share is well below the investors own understanding of the value of one of Australia’s leading technology companies. Coal Link Investments believe QMASTOR is well positioned to grow its business as a specialist software supplier to the mining, port, and power generation sectors in Australia. QMASTOR also has the potential to build on this platform and penetrate key overseas markets at a time of high growth in these sectors, particularly in the area of bulk commodity logistics. For further information: Fortbridge Consulting Bill Kemmery 0400 122 449 Peter – John Lewis 0416 290 604 MICROEQUITIES ASSET MANAGEMENT
MEDIA RELEASE
MICROEQUITIES ASSET MANAGEMENT REITERATES ITS DEFINITIVE REJECTION OF QMASTOR’S
TAKEOVER BID BY US BASED COMPANY TRIPLE POINT TECHNOLOGY
Sydney July 8th, 2011- QMASTOR (ASX QML) largest shareholder Microequities Asset Management has
today reiterated its definitive rejection to the proposed off market takeover bid for ASX mining software
developer QMASTOR Ltd by US based Triple Point Technology Inc.
In reference to the second supplementary bidder’s statement issued yesterday to the ASX by Triple
Point (Australia) Pty Ltd, and specifically section “3.0 Current Indication by shareholders”, Chief
Investment Officer of the Deep Value Microcap Fund Carlos Gil said that Microequities Asset
Management reiterates its previously issued formal declarations.
“We unequivocally and definitively reject Triple Point’s all cash $0.23 per share off market take over bid
for QMASTOR Ltd. This rejection of the $0.23 bid is both definitive and final. We deem the offer to be
highly opportunistic and disparaging compared to our assessed value of the business”, he said.
Microequities Asset Management, QMASTOR largest shareholder with 7.1% of QMASTOR’s shares
issued, is pleased with the growth trajectory of QMASTOR’s business, and its strong increase in earnings
indicated in their updated earnings guidance issued earlier this week. “We believe QMASTOR holds a
highly valuable technology portfolio. Management maintains our full backing, and we are confident that
they will continue the current impressive growth trajectory, and in doing so enhance shareholder
value”, he concluded.
ENDSFor further information:
Microequities Asset Management
Carlos Gil (CIO)
02 9231 6169 / [email protected]
THIS MEDIA RELEASE CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND UNCERTAINTIES. THESE FORWARD-LOOKING
STATEMENTS ARE NOT GUARANTEES OF QMASTOR'S FUTURE PERFORMANCE AND INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES THAT
MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE RESULTS DISCUSSED IN THESE STATEMENTS. AN INVESTOR SHOULD SEEK ITS
OWN INDEPENDENT PROFESSIONAL ADVICE IN RELATION TO THE TECHNICAL, FINANCIAL, TAXATION, LEGAL AND COMMERCIAL MATTERS
RELATING TO ANY INVESTMENT IN QMASTOR LIMITED.OTHER THAN TO THE EXTENT REQUIRED BY LAW (AND ONLY TO THAT EXTENT) THE
COMPANY (MICROEQUITIES) AND ITS OFFICERS, EMPLOYEES AND PROFESSIONAL ADVISERS MAKE NO REPRESENTATION, GUARANTEE OR
WARRANTY (EXPRESSED OR IMPLIED) AS TO, AND ASSUME NO RESPONSIBILITY OR LIABILITY FOR, THE CONTENTS OF THIS MEDIA RELEASE.
About Microequities
Microequities is a specialised Microcap asset manager. Established in 2005 as an independent investment research
house devoted to Microcaps, the company expanded into funds management in early 2009 by launching its
flagship Deep Value Microcap Fund. For further information www.microequities.com.au