PERTH (miningweekly.com) – Dual-listed gold miner Troy Resources has extended the takeover period for fellow gold miner Azimuth Resources until June 28.
This was compared with the original closing date of June 14.
Troy noted that, to date, it had acquired a 37.99% shareholding in Azimuth, comprising direct acceptance and shares lodged into the institutional acceptance facility.
Troy announced its off-market takeover offer at the end of March, to acquire Azimuth in a share trade, offering one Troy share for every 5.695 Azimuth shares held.
Under the proposed terms, Troy shareholders will hold 55% of the combined company.