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Troy Resources Ltd Announces Compulsory Acquisition Of Azimuth Resources Ltd's Shares

Wednesday, 10 Jul 2013 09:26pm EDT 

Troy Resources Ltd announced that as at close of trading on the ASX on July 10, 2013, Troy's relevant interest in Azimuth Resources Ltd (Azimuth) was 93.97%. Troy will now proceed to acquire the remaining Azimuth shares under the compulsory acquisition provisions of the Corporations Act 2001 (Cth) (Corporations Act). The compulsory acquisition will be on the same terms as the Offer, that is, one Troy share for every 5.695 Azimuth shares held. The compulsory acquisition process, which is subject to the Corporations Act, is likely to take approximately 4 to 6 weeks, but may take longer in some circumstances. Azimuth shareholders who have not accepted into the Offer, may still do so before 7.00pm (Sydney time) / 5.00am (Toronto time) on July 12, 2013 to receive their Troy shares within five trading days after the Offer closes. If shareholders wait to have their Azimuth shares compulsorily acquired, they will have to wait at least four weeks to receive their Troy shares. Azimuth shareholders should also be aware that they will not be able to sell their Azimuth shares on the ASX after July 18, 2013, which is when trading in Azimuth shares on ASX will be suspended. 

Company Quote

0.03 +8.45%
18 Dec 2014