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18 Jul 2011

Clayton Utz advising Sundance on Hanlong proposal

Perth, 18 July 2011: Clayton Utz is advising ASX-listed international iron ore exploration and development company Sundance Resources Limited in connection with an all-cash conditional proposal to acquire 100 percent of Sundance by China's Hanlong Mining Investments, announced to the market today.

Under the proposal, Hanlong Mining – Sundance Resources' major shareholder, with an 18.6 per cent stake - proposes to acquire the remaining shares in Sundance via a scheme of arrangement, at a price of A$0.50 per Sundance share attributing an approximate A$1.4 billion value.

Clayton Utz Perth Corporate / M&A partner Mark Paganin is the firm's lead partner on the deal, with support from Perth colleague and Corporate / M&A partner Matthew Johnson.

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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.