Contents :
We refer to the above and your fax dated 5 October 2000.
We confirm that De Beers' Australia Pty Limited (De Beers') had yesterday made an annoncement that it intends to increase its offer price for all shares in Ashton Mining Limited (Ashton) to AUD2.28 per Ashton share and to extend its offer until 27 October 2000.
In our press release yesterday, we have stated that in the absence of a higher offer, MMC intends to accept De Beers' revised offer and believe that it is in the best interest of Ashton's shareholders. We were also pleased to note that De Beers' revised offer is within the Independent Expert's range of AUD2.23 to AUD2.70 per Ashton share.
Query Letter Contents :
We refer to the above news appearing in Bloomberg on 5 October 2000, a copy of
which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence
which states that
"De Beers has raised its offer for Ashton to A$2.28/share from A$1.57, trumping
contender Rio-Tinto's offer of A$1.85/share."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported news in particular the underlined
sentence after due and diligent enquiry with all the directors, substantial
shareholders and all such other persons reasonably familiar with the matters
about which the disclosure is to be made in this respect. In the event you deny
the above reported sentence or any other part of the news, you are required to
set forth facts sufficient to clarify any misleading aspects of the same. In
the event you confirm the above reported sentence or any other part of the
news, you are required to set forth facts sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
INDERJIT SINGH
Senior Manager
Listing Operations
ASL/NIK
Copy to: Securities Commission (via fax)
