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Dongshan Investments announces intention to make A$1.20 cash takeover offer for Cardinal Resources DUBAI, United Arab Emirates, Dec. 24, 2020 /PRNewswire/ Dongshan Investments Limited ( Dongshan ) has today announced its intention to make an off-market takeover offer of A$1.20 per share ( Offer ) to acquire all of the ordinary shares in Cardinal Resources Limited ACN 147 325 620 ( Cardinal ). Highlights Intention to make an all-cash takeover offer of A$1.20. Offer represents a 15% premium to the 3 (three) month Volume Weighted Average Price of 1.045A$ per Cardinal Share and a 12% premium to the maximum price offered under the current offer by Shandong (1.075A$ per Cardinal Share). Conditions to the Offer will include financing, limited due diligence, and regulatory approvals (a full list of the conditions to the Offer is provided in Annexure 1 of this announcement).

United arab emiratesAbu dhabiAbuz abyCoted ivoireRepublic of the sudanIslamic republic of mauritaniaIvory coastPrnewswire dongshan investments limitedAlnair mineral servicesCardinal group the namdiniFirst abu dhabi bankAlliance for mining coCardinal resources limitedPricewaterhousecoopers corporate finance incInvestments limitedVolume weighted average price