Finalisation of Independent Expert's Report

Panoramic Resources Limited (ASX: PAN, “Panoramic”, or “Company”) has commissioned an independent expert’s report which is being prepared by KPMG (including a technical report by SRK Consulting Pty Ltd) (“Independent Expert’s Report”) on the fairness and reasonableness of the unsolicited, highly conditional off-market takeover bid by Independence Group NL (“IGO”) that was announced on 4 November 2019 (“IGO Takeover Offer”).

On 13 December 2019, KPMG advised that the Independent Expert’s Report is expected to be finalised on or around 23 December 2019.

An updated timetable containing expected key dates for the IGO Takeover Offer and the Panoramic Retail Entitlement Offer is outlined below.

As set out in the 9 December 2019 Target’s Statement, the Directors of Panoramic maintain their unanimous recommendation that Panoramic shareholders REJECT the IGO Takeover Offer. To REJECT the IGO Takeover Offer, Panoramic shareholders should simply ignore all documents and correspondence sent by IGO in relation to the IGO Takeover Offer.

The Directors will review their position following receipt of the Independent Expert’s Report.

The information line has been established which shareholders are directed to contact with any inquiries. The Panoramic shareholder information line is open from 9:00am to 5:00pm AEDT and can be contacted on the following telephone numbers:

• 1300 362 398; or
• +61 2 8355 1004