Innopac

Innopac - Latest news was yesterday where Innopac’s offer on Merlin Diamonds lapsed. Grp note that as at the date of this Announcement, the total acceptances received by the Company is ~72.73% and the Merlin Convertible Notes remain unconverted. The Directors of the Company have considered (1) the implications of having to keep MED’s listing on the ASX, (2) the potential dilutive effect of the Merlin Convertible Notes on the MED stake that the Company would have acquired, if these outstanding Conditions were waived; and (3) the need to increase the Offer Consideration if the Company elected to further extend the Closing Date. Having deliberated on this matter, Innopac has decided not to waive these critical offer conditions and have allowed the offer to lapse. As a result of the lapse of the Offer, Innopac, no longer has any interest in any Merlin shares.