Troy Resources to proceed with Azimuth compulsory acquisition

By IVCPOST Staff Reporter

Jul 11, 2013 03:45 AM EDT

Troy Resources Limited announced on a press release that its interest in Azimuth Resources Limited now amounted to 93.97%. The remaining shares would be acquired by Troy under the provisions for compulsory acquisition of the Corporations Act 2001.

The terms of the compulsory acquisition would be the same as the offer. Under these terms, one Troy share would be equivalent to 5.695 shares in Azimuth.

The compulsory acquisition process was likely to take around 4 to 6 weeks. However, the process could be longer, depending on the circumstances.

Azimuth shareholders could still accept the offer on Friday, July 12, 2013, before 7:00 pm (Sydney time) or 5:00 am (Toronto time). These shareholders would receive their shares in Troy within five trading days following the closing of the offer.

Azimuth shareholders were also encouraged to sell their shares on Thursday, July 18, 2013, on the ASX. After this date, Azimuth shares would be suspended from trading on the ASX.

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