Iron Ore Holdings LTD

on 11 august 2014, bc iron ltd (asx: bci) and iron ore holdings ltd (asx: ioh) announced that they had entered into a bid implementation agreement (“bia”) under which bc iron will offer to acquire all of the issued shares of ioh by way of an off-market takeover offer. the highlights from the transaction were as follows: • bc iron ltd (asx:bci) (“bc iron”) to strengthen its pilbara iron ore portfolio via recommended off-market takeover offer for iron ore holdings ltd. • bc iron to offer 0.44 new bc iron shares and a$0.10 in cash for each ioh share held • transaction will create a leading mid-cap iron ore company with: − an attractive and complementary portfolio of production and development assets in the world’s best iron ore address − strong operating cash flows from nullagine and iron valley − unaudited pro forma cash balance of a$190 million1 (as at 30 june 2014) − the technical and financial platform to develop the buckland project − a proposed private haul road and port at cape pre