Aguia Resources Limited (ASX: $AGR) has successfully completed its takeover offer to acquire all the shares of Andean Mining Limited, acquiring a relevant interest in 93.71% of the shares of Andean as a result of acceptances of the takeover offer. The takeover offer was declared unconditional on 24 May 2024, and Aguia will issue 422,411,334 fully paid ordinary Aguia shares as consideration under the takeover offer.
Aguia also proposes appointing William Howe as Managing Director of Aguia, with effect on and from the issue of the Aguia shares as consideration under the takeover offer. Additionally, noting its relevant interest in 93.71% of the shares of Andean, Aguia proposes commencing the compulsory acquisition of the remaining Andean shares within one month of the closing date of the takeover offer in accordance with section 661B(2)(a)(i) of the Corporations Act.
Aguia Resources Limited (ASX: $AGR) has successfully completed the takeover of Andean Mining Limited, acquiring 93.71% of the shares. The company will issue 422,411,334 fully paid ordinary Aguia shares as consideration under the takeover offer and proposes appointing William Howe as Managing Director. Aguia also plans to commence the compulsory acquisition of the remaining Andean shares within one month. This acquisition aligns with Aguia's strategy to expand its asset base and diversify its portfolio, incorporating gold, silver, and copper projects alongside its pre-production phosphate projects in Brazil.