Metallica Minerals Limited (ASX: $MLM) has issued its Fifth Supplementary Target's Statement on 10 July 2024, recommending shareholders to accept the unconditional takeover bid from Diatreme Resources Limited (ASX: $DRX). The bid is due to close on 23 July 2024, and the Independent Board Committee (IBC) has recommended acceptance based on various factors, including DRX's achieved voting power in MLM of 82.05% and the potential delisting of MLM from ASX.
The Independent Board Committee (IBC) of Metallica Minerals Limited has recommended shareholders to accept the unconditional takeover bid from Diatreme Resources Limited. The recommendation is based on several factors, including DRX's achieved voting power in MLM of 82.05%, the potential delisting of MLM from ASX, and the strategic direction control by DRX. The IBC has concluded that shareholders would likely be better off accepting the Offer, especially those who require liquidity in the short to medium term.
Metallica Minerals Limited (ASX: $MLM) has recommended shareholders to accept the unconditional takeover bid from Diatreme Resources Limited (ASX: $DRX) based on the Fifth Supplementary Target's Statement. The IBC has highlighted DRX's achieved voting power in MLM of 82.05% and the potential delisting of MLM from ASX as key factors influencing the recommendation. Shareholders are advised to consider the potential practical effects of DRX's control over the strategic direction of MLM. The bid is due to close on 23 July 2024, and shareholders are encouraged to review the full Fifth Supplementary Target's Statement for detailed information.