Palmary Enterprises (Palmary) - which is controlled by the Ukrainian investment company Privat Group (Privat) - has acquired 91.48 percent of ordinary shares in the Australian mining company Consolidated Minerals Limited (ConsMin), as a result of its takeover offer which expired on January 8, 2008.
Currently, Palmary is to decide whether or not to proceed with the compulsory acquisition of ConsMin's remaining shares. If Palmary decides to proceed, it will issue a compulsory acquisition notice within one month following the end of the offer period.