Overview of Namoi Cotton's latest announcement

Namoi Cotton Limited (ASX:NAM) has received a takeover proposal from Olam Agri Holdings Limited. Harvest Lane Asset Management Pty Ltd, holding around 6% shareholding interest in Namoi, has expressed its intention to accept Olam's offer of $0.75 per share. Shareholders are advised to stay informed as the situation develops.

Harvest Lane Asset Management's Intention Statement

Harvest Lane Asset Management, owning 7.025% of Namoi's outstanding shares, has declared its intention to accept Olam's offer in the absence of a Superior Offer. The Managing Director, Luke Cummings, emphasized that they do not presently consider LDC's offer to constitute a Superior Offer and do not intend to accept it on its existing terms.

Summary of the announcement and outlook

Namoi Cotton Limited has received a takeover proposal from Olam Agri Holdings Limited, and Harvest Lane Asset Management has expressed its intention to accept Olam's offer of $0.75 per share. Shareholders are advised to stay updated as the situation progresses. The company will continue to keep shareholders and the market informed of developments in accordance with its continuous disclosure obligations. The outlook includes the potential acceptance of Olam's offer by Harvest Lane Asset Management, subject to the absence of a Superior Offer.