https://www.miningweekly.com

AIC shareholders urged to accept deal

15th March 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed takeover target AIC Resources has urged shareholders to accept an offer from fellow- listed Intrepid Resources.

Intrepid is offering one of its own shares for every two AIC shares held, which will result in Intrepid shareholders holding a 27% interest of the combined company, while AIC shareholders will hold the majority 73% interest.

This was the second takeover attempt of AIC by Intrepid, with Intrepid’s previous offer of one share for every three AIC shares failing to gain traction.

The AIC on Friday urged shareholders to accept the offer in the absence of a superior proposal.

The offer will close on April 30, and is subject to a number of conditions, including a minimum 90% acceptance condition and Intrepid shareholder approval, as the merger is classified as a reverse takeover.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.048 0.636s - 110pq - 2rq
Subscribe Now