Dacian nudges shareholders to take action on Genesis bid
PERTH (miningweekly.com) – ASX-listed Dacian Gold has reminded shareholders that the takeover offer from fellow-listed Genesis Minerals will close on February 20.
Genesis is offering 0.0843 of its own shares for every Dacian share held, implying a value of 10.2c a share for the Dacian holding, and an equity value of A$111-million, based on Genesis’ last closing price.
The offer has been supported by Dacian directors, who have urged shareholders to accept the offer.
Genesis currently holds a 78.3% interest in Dacian.
“We encourage shareholders to consider their individual positions in light of Genesis closing the offer and look forward to working with Genesis and minority shareholders beyond closure of the offer,” Dacian nonexecutive and independent chairperson Craig McGown said.
Dacian is poised to transition from a producer to an explorer and developer in March, as production from its Mt Morgans gold mine will cease.
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