Aurum Resources Limited (ASX: AW) is taking a bold step with its off-market takeover offer for all ordinary shares in Mako Gold Limited (ASX: MKG) announced on 16 October 2024. This Share Offer is set to close on 31 January 2025. With a significant interest in 90.23% of Mako shares, Aurum is moving towards compulsory acquisition of the remaining shares that have not been accepted under the offer.
Here are some key points regarding this takeover offer:
- A notice of compulsory acquisition (Notice) has been lodged with ASIC and will be sent to Mako securityholders who have not accepted the Share Offer, as required by the Corporations Act 2001 (Cth).
- This Notice will be accompanied by a Letter explaining the compulsory acquisition process.
- In compliance with the Corporations Act, Aurum will also extend an offer to buy out holders of Mako securities convertible into Mako shares.
- Separate notification will be provided to holders of convertible Mako securities regarding this buyout offer.
- ASX is expected to suspend the quotation of Mako shares five business days after the Notice is issued, as per ASX Listing Rule 17.4.
As Aurum takes these steps, it is clear that the company is proceeding with determination towards the goal of acquiring all of Mako’s shares. The Aurum Board of Directors has approved this announcement.
In conclusion, if you are a Mako securityholder, it is essential to stay informed about the developments and implications of this takeover offer as it progresses. Conduct thorough research and seek advice before making any decisions based on the information provided here. Be sure to refer to the full disclaimer for more details.
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