PERTH (miningweekly.com) – Gold miner Ramelius Resources has reached a 90.82% acceptance mark for its takeover in fellow-listed Apollo Consolidated.
Ramelius is offering 34c a share in cash and 0.1778 Ramelius shares for each Apollo share held, valuing Apollo shares at 62c each.
The takeover offer, which has been backed by the Apollo board, will close on December 17, and will not be extended, Ramelius said on Friday. Apollo’s remaining shareholders have been urged to accept the takeover offer before the closing date.
Ramelius will now move to the compulsory acquisition of the remaining shares in the company.