Emerald Resources NL : 90% threshold achieved for renaissance takeover . Emerald can now proceed to compulsorily acquire any renaissance shares not accepted into emerald's off-market takeover bid .
Renaissance Minerals Ltd : Emerald resources and Renaissance Minerals to merge . Says Emerald will acquire all shares in Renaissance by offering 1.55 new emerald shares for every 1 Renaissance share . Says Simon Lee Ao, chairman of Emerald, will remain as chairman of the board of the combined group . Merged entity will have a pro-forma market capitalisation of approximately A$95 million and approximately A$20 million of cash . Offer values Renaissance at approximately A$40 million or 7.0 cents per share .