Sweetened Ramelius offer wins over Explaurum
Gold Ramelius Resources’ sweetened takeover bid has won over fellow ASX-listed Explaurum, with the takeover target on Tuesday recommending that shareholders accept the offer.
Ramelius last week improved its offer by adding 2c a share in cash in addition to one of its own shares for every four Explaurum shares held.
The new offer valued Explaurum shares at 13.4c each and is a 57.6% premium to the last closing price of Explaurum shares, as well as an 11.7% premium to the subscription price of a transaction with ASX-listed Alkane Resources.
Explaurum has previously urged shareholders to reject the takeover offer from Ramelius in favour of a strategic investment by Alkane, which would see that company invest A$8-million in Explaurum for a 12.2% stake.
However, with prospects of shareholders approving the Alkane strategic investment being low, Explaurum and Alkane agreed to terminate the agreement in order for the improved Ramelius offer to be made unconditional.
Ramelius holds a 26.73% interest in Explaurum.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation