VANCOUVER, Sept. 12 /CNW/ - Tinpo Holdings Industrial Company Limited
("Tinpo") announced today that it has extended the period for acceptance of
its offer through its wholly-owned subsidiary (the "Offeror"), to acquire all
of the common shares (the "Shares") of Western Prospector Group Ltd. ("Western
Prospector") (TSX VENTURE: WNP) (other than Shares beneficially owned,
directly or indirectly, by the Offeror, its joint actors and their affiliates
- including Anchorage Capital Master Offshore, Ltd.) for cash consideration of
$1.34 per Share (the "Offer"), to 5:00 p.m. (Vancouver time) on September 30,
2008. A formal notice of extension will be mailed to Western Prospector
shareholders early next week.
As of September 11, 2008, approximately 32,436,814 Shares have been
validly deposited under the Offer, which together with Shares beneficially
owned by the Offeror, its joint actors and their affiliates, represents
approximately 76.08% of the issued and outstanding Shares (on a fully diluted
At the time of the initial expiry of the Offer on September 11, 2008, all
of the conditions to the Offer, including the minimum tender condition, had
been met except one. The only condition not satisfied was the condition that
all outstanding stock options be exercised, surrendered, converted, deemed
exercised or terminated. The Offer is being extended until the end of the
month to permit that condition to be met, to satisfy securities legislation
(which requires a minimum of ten days from mailing for an extension), as well
as to permit shareholders who have not yet tendered their Shares under the
Offer an extended opportunity to do so.
Except for the extension described above, all other terms and conditions
of the Offer remain unchanged.
Full details of the Offer are contained in the takeover bid circular of
the Offeror and related materials and the directors' circular, copies of which
may be accessed electronically on the Internet at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: Tinpo/The Balloch Group: Howard Balloch, (514)
994-6137 or +86-10-8451-5559, Email: email@example.com