Noble Group

Independent directors of Gloucester Coal (GCL) have recommended that shareholders accept Noble’s cash offer of A$12.60 for remaining GCL shares. However, they are advised to make their decision closer to the end of offer period on 5 Jul, as the 2 parties are negotiating an alternative deal, which will give GCL shareholders the option to stay on as GCL shareholders but with additional Aust coal assets that GCL will acquire from Noble; or sell their shares to Noble.