Andean Mining Limited (ASX: $AGR) has issued a Target's Statement in response to an off-market takeover offer by Aguia Resources Limited. The Independent Directors unanimously recommend accepting the Bidder's Offer in the absence of a Superior Proposal. The Independent Expert has concluded that the Offer is fair and reasonable. The Offer is scheduled to close on 8 April 2024.
The Independent Directors recommend accepting the offer due to the fair and reasonable valuation by the Independent Expert, the lack of liquidity in trading Andean shares, and the potential adverse consequences of not accepting the offer. Shareholders are advised to carefully consider their options, seek independent financial and taxation advice, and review the risks associated with the offer.
Andean Mining Limited has responded to the takeover offer by Aguia Resources Limited, recommending acceptance based on the fair and reasonable valuation by the Independent Expert. The announcement provides detailed information on the company's major activities, locations, corporate structure, financial information, and the background of its directors. Shareholders are advised to consider their options carefully, seek independent advice, and review the risks associated with the offer. The announcement emphasizes the importance of making informed decisions regarding the offer.