Atlas-Warwick merger progress

Warwick Resources security holders will have the opportunity to discuss the proposed merger with Pilbara iron ore producer Atlas Iron, after the Federal Court yesterday cleared the way to convene meetings in late-November.

Warwick Resources security holders will have the opportunity to discuss the proposed merger with Pilbara iron ore producer Atlas Iron, after the Federal Court yesterday cleared the way to convene meetings in late-November.

Under the terms of the merger, Atlas is offering one share for every three Warwick shares.

Atlas will also offer optionholders a number of Atlas shares depending on tranche of Warwick options held.

The companies are planning to implement the share and option schemes on 17 and 18 December respectively.

An independent assessment has deemed the merger both fair and reasonable and in the best interests of the security holders.

The Warwick directors have unanimously recommended the merger in the absence of a superior offer.

The company intends to hold the shareholder and optionholder meetings on 30 November in Perth.

A scheme booklet will be dispatched to all security holders on 30 October.

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