Business:
Western Prospector Advises Shareholders Not to Take Action; Israeli
Company to Introduce New Irrigation System; Mining Company’s License
Canceled Due to Illegal Activity; Mongolian, Japanese Stock Exchanges
to Cooperate
Economy: Petroleum Products to be Exempt from
Tax; Draft Resolution on Cashmere Submitted; Tax Rate on Gold to be
Changed; Strategic Issues of South Gobi Infrastructure; MP Gankhuyag:
It’s Impossible to Hold Inflation at 6%; UB Mayor Orders Ban on Plastic
Bags
Politics: 2008 Election Campaigning Begins; National
New Party Sets Election Platform; Parties Establish New Coalition; Prime
Minister Meets Chinese Ambassador
LEAD STORY: WESTERN PROSPECTOR
ADVISES SHAREHOLDERS NOT TO TAKE ACTION
Western Prospector
Group Ltd. (TSX VENTURE: WNP) has announced that it is reviewing
the unsolicited takeover offer by Khan Resources Inc. (TSX:KRI).
The Company's Board of Directors appointed a committee of advisers to
assist the Board in fulfilling its fiduciary duties. The Khan
offer is open for acceptance until June 20, 2008. Western Prospector
will carefully review and consider the Khan bid with the assistance
of its independent advisers. By May 27, the Board will make a
recommendation to shareholders regarding the Khan bid. Western has
urged its shareholders not to take any action in relation to the Khan
offer until they have received the Board’s recommendation.
For more business news and membership information on BCM, visit http://bcmmongolia.org/.
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