CBH Resources Ltd (ASX:CBH) shares enter trading halt pending takeover offer

12/03/2010 11:29:00

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Shares in zinc, lead and silver miner CBH Resources Ltd (ASX:CBH) have entered a trading halt pending the announcement of the company receiving a takeover offer. In a statement to the ASX this morning, the company revealed it had received a proposal from a party which may lead to a change of control transaction. The company says it requested the trading halt to enable it to prepare a response to the proposal and give the market more information. CBH expects to resume trading ahead of the opening of trade on Tuesday, March 16. The company, which operates mines in NSW and Western Australia, has been subject to takeover speculation in the past. But in January, it told the ASX that it had stopped talks with Nyrstar NV of Belgium in favour of a binding $67.5 million deal with its largest shareholder, Japan’s Toho Zinc. Shares in the company last traded at 14 cents. For the 12 months to June 30, 2009, CBH Resources posted a loss of $96.63 million.