16 Nov 2010

Clayton Utz advises Wah Nam International on Brockman, FerrAus bids

Perth, 16 November 2010: Clayton Utz is advising Hong Kong Stock Exchange (HKEx) listed Wah Nam International Holdings Limited (Wah Nam) on its concurrent off-market takeover bids for ASX-listed Brockman Resources Limited and FerrAus Limited, and Wah Nam's initial public offering (IPO) and listing on the Australian Stock Exchange (ASX). The transactions were announced on 10 November.

Clayton Utz Perth Corporate / M&A partner Mark Paganin is leading the firm's team, which includes special counsel Glenda Currie and senior lawyer Stephen Neale.

Under the concurrent bids, which will be undertaken through Wah Nam's wholly owned subsidiary, Wah Nam International Australia Pty Ltd, Wah Nam will offer 30 Wah Nam shares for every Brockman Resources Limited share, and 6 Wah Nam shares for every FerrAus Limited share. This values the Brockman Resources bid at approximately A$925 million and the FerrAus Limited bid at approximately A$265 million.

Wah Nam's IPO is seeking to raise A$2 million with a facility to raise an additional A$1 million in oversubscriptions. On completion of its IPO and listing, Wah Nam would become the first HKEx-listed company to list on the ASX.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.