Bowen Energy announced it will extend its takeover offer for Rocklands until October 12, 2007.

 

"An adjournment of the meeting to 26 September 2007 will give sufficient time for RCI shareholders to consider Bowen’s revised offer before voting on any resolution in connection with the proposed acquisition of China Coke & Chemicals Limited," Rocklands said in a statement.

 

With the backing of Indian giant Bushan Steel, Bowen increased its offer to 40c cash and one Bowen share for every two Rocklands shares last week.

 

Last month Bhushan Steel signed a $A4.5 million agreement with Bowen that gives Bhushan a 90% interest and a right of first refusal to develop any of Bowen's existing and future coal projects, including the Rocklands Richfield reserves.