African Aura board urges shareholders to reject now-extended takeover offer

The board of African Aura Resources, Ltd., after having learned that Northern Financial has extended an extant unsolicited takeover bid, has reaffirmed their recommendation that shareholders not tender their shares. As the news release states, "the Board of Directors as a whole: - unanimously determined that the Northern Offer is NOT fair from a financial point of view to the African Aura Shareholders; - unanimously determined that the Northern Offer is NOT in the best interests of African Aura; and - unanimously recommended that shareholders REJECT the Offer and NOT tender their African Aura Shares to the Offer."

In trading yesterday, African Aura shareholders and would-be buyers did not make any transactions, leaving the stock unchanged at 10 cents.

The company's Google Finance web page is here.


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