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ASF Group Increases Stake In ActivEX To 38.32%

ASF Group (ASX: AFA) received further acceptances for its $0.015 per share cash on-market takeover bid for copper-gold explorer ActivEX (ASX:AIV), increasing its interest to 38.32%.

This increases its total shareholding to 136,809,048 shares, up from the previous 130,770,088 shares.

The unconditional on-market takeover offer was made on 13 May 2013 and extends to shares issued under ActivEX's Rights Issue.

ASF's takeover offer ends on 28 June 2013.

ActivEX has a portfolio of exploration projects focused on copper and gold across Queensland and one advanced potash project in Western Australia.

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