ASX-listed Gold Road Resources, which currently holds a relevant interest in 95.14% of fellow ASX-listed DGO Gold shares, will now proceed with the compulsory acquisition of the remaining DGO shares following a previously announced off-market takeover offer.
The offer is scheduled to close at 19:00 AEST on June 30.
The compulsory acquisition will be on the same terms as the offer, which is 2.25 Gold Road shares for every one DGO share.
Gold Road said that the compulsory acquisition process would take about four to six weeks, although it could take longer depending on the circumstances.
Gold Road advised that DGO shareholders who have not yet accepted the offer were urged to do so before the offer closes so that they could receive their consideration within seven business days of their acceptance being processed.
If this is not done by the deadline, then their DGO shares would be compulsorily acquired and they will have to wait at least four weeks to receive their consideration.
DGO shareholders were notified that they may not be able to sell their DGO shares on-market after July 1, which is when trading in DGO shares on ASX is likely to be suspended in accordance with ASX listing rules.
DGO shareholders who have already accepted the offer do not need to do anything further.