Perseus moves to compulsory acquisition of last remaining shares in OreCorp
With ASX- and TSX-listed Perseus Mining now holding a relevant interest of 94.99% of ASX-listed OreCorp’s shares, the company is moving to a compulsory acquisition of the remaining shares it does not own.
Perseus’ offer is closing on April 19, affording remaining shareholders the opportunity to sell their shares at Perseus’ offer price of A$0.575 apiece.
OreCorp shareholders who accept the offer before it closes will receive their offer consideration within seven business days, whereas a compulsory acquisition of shares will take longer – between four and six weeks, the company warns.
OreCorp shareholders may not be able to sell their OreCorp shares on-market after April 29, which is when trading in OreCorp shares on ASX is likely to be suspended in accordance with listing rules during a takeover process, Perseus points out.
OreCorp has been advising shareholders to accept Perseus’ offer since it was amended to A$0.575, from A$0.55 originally, in mid-March.
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