Mincor Resources NL has announced that Wyloo Metals Pty Limited now holds a 51.24 per cent interest in the ordinary fully paid shares in Mincor, enabling the latter to control the composition of the Mincor board.
According to Wyloo, its Consolidated Investments subsidiary engaged in an on-market takeover of Mincor for all of the fully paid ordinary shares in Mincor, which Wyloo does not already own, for $1.4 per share.
It noted that the offer had been declared best and final and would not be increased without a competing proposal.
Mincor’s directors are urging shareholders to accept the proposal before its scheduled closing on 8 May.
The remaining shareholders are asked to carefully consider Mincor’s target statement concerning the offer, including the risks associated with remaining as a minority shareholder.
In order to accept the offer, shareholders should refer to Section 2 of the bidder’s statement or Section 4.13 of the target’s statement.
