Key points
- Nautilus Minerals learned via a Jan. 7, 2013 news release that Michael Bailey and an entity he controls intend to make an unsolicited offer for all outstanding Nautilus shares.
- Nautilus states it has had no contact with Bailey or any entity controlled by him and had no prior knowledge of the offer.
- Nautilus says it cannot make any determination on the offer or its validity at this time.
- The Nautilus board will consider the offer if and when it is formally made, and advises shareholders to take no action until further board communication.
NAUTILUS RESPONDS TO ANNOUNCEMENT OF UNSOLICITED TAKE-OVER BID
Nautilus Minerals Inc. has become aware through a news release dated Jan. 7, 2013, that Michael Bailey and an entity controlled by him intend to make an unsolicited offer to purchase all of the outstanding shares of Nautilus.
Nautilus has not had any contact with Mr. Bailey or any entity controlled by him with respect to this unsolicited offer and has no prior knowledge thereof. Nautilus is therefore unable to make any determinations regarding the offer or its validity.
The board of directors of Nautilus will consider the unsolicited offer if and when it is formally made. Nautilus advises its shareholders not to take any action in respect of such offer, if and when made, until shareholders have received further communication from the board of directors of Nautilus.
