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Compulsory acquisition notices dispatched re Wiluna Mines

Document date:  Mon 05 Jan 1998
Published:  Mon 05 Jan 1998 00:00:00
Document No:  142629
Document part:  A
Market Flag:  N
Classification: 

WILUNA MINES LIMITED                          1998-01-05  ASX-SIGNAL-G

HOMEX - Perth                                                         

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Great Central has today dispatched compulsory acquisition notices
pursuant to Section 701(2) of the Corporations Law to dissenting
offerees under Great Central's takeover announcement to acquire all
the issued ordinary shares in Wiluna Mines.

In pursuance of Listing Rule 3.1, we hereby lodge a signed copy of
one of the said notices.

D H Simcox 
COMPANY SECRETARY


LETTER TO SHAREHOLDERS 

On 21 August 1997, Great Central Investments Pty Ltd ("Great
Central") offered to acquire your ordinary shares in Wiluna Mines.
The offer closed on 10 October 1997. Great Central, on 14 October
1997, made a further offer (the "second takeover offer") to acquire
your shares. This offer closed on 2 January 1998 and our records show
that Great Central has not received your acceptance.

As acceptances have been received in respect of more than 90% of the
ordinary shares which were subject to the offers and more than three
quarters of Wiluna shareholders have accepted the second takeover
offer, Great Central now invokes the compulsory acquisition
provisions of the Corporations Law to acquire your shares. This
acquisition will be effected at the same price as that offered by
Great Central under the second takeover offer. The formal notice,
required to be given under the compulsory acquisition provisions of
the Corporations Law, is enclosed.

The compulsory acquisition procedures, under the Corporations Law,
will take no less than four weeks but could take up to six weeks from
the date of this letter. Great Central will, on the completion of
this process, pay to Wiluna Mines, to hold in trust on your behalf,
the consideration of $0.75 for each of your Wiluna Mines ordinary
shares. Your claim for the consideration for your shares, as
submitted to Wiluna on the claim form attached, will then be paid.

If you have sold your shares to Great Central before the close of the
offer on 2 January 1998,please ignore this letter.

Should you have any other questions or require any further
information please telephone or write to Ms Kerry I'Anson,
Shareholder Relations Manager or the Company Secretary at the address
shown below.

D H Simcox 
COMPANY SECRETARY



NOTICE TO DISSENTING OFFEREE UNDER TAKEOVER ANNOUNCEMENT

1. Under a takeover announcement offers were made by Great Central
Investments Pty Ltd ACN 079 154 233 (in this notice called the
"Offerer") in respect of the acquisition of ordinary shares in the
above named company and the last day on which the offers remained
open was 2 January 1998.

2. The Offerer has become entitled to 157,059,570 shares being not
less than 90% of the shares included in the class of shares in
respect of which the takeover offer was made.

3. 1,516 of the Offerees, being not less than three-quarters of all
the Offerees, have disposed these shares to the Offerer.


A full copy of the accompanying Claim Form is available at the ASX
Investor Centre in your state capital. For further assistance,
contact ASX Customer Service on 1 300 300 279.

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