Update on proposed acquisition of Azure Minerals by SH Mining Pty Ltd

Azure Minerals Limited (ASX: $AZS) has completed the despatch of the transaction booklet in relation to the proposed acquisition of 100% of its shares by SH Mining Pty Ltd. The transaction involves a scheme of arrangement for cash consideration of $3.70 per Azure share and a conditional off-market takeover offer for cash consideration of $3.65 per Azure share if the scheme is not successful.

Azure Board's Recommendation and Indicative Timetable for the Scheme

The Azure Board unanimously recommends that shareholders support the transaction by voting in favor of the resolutions to approve the joint bidding arrangements and the scheme, and by accepting the takeover offer if the scheme is not successful. The board intends to vote all Azure shares held or controlled by them in favor of the resolutions. An indicative timetable for the scheme has also been provided, with the implementation date set for Thursday, 18 April 2024.

Outlook for Azure Minerals and Shareholders

Azure Minerals has completed the despatch of the transaction booklet, marking progress in the proposed acquisition by SH Mining Pty Ltd. The board continues to unanimously recommend that shareholders support the transaction. The indicative timetable for the scheme has been outlined, with the implementation date set for April 18, 2024. Shareholders are advised to refer to the transaction booklet for full details and are encouraged to contact the Azure shareholder information line for any queries. The announcement signifies a significant step in the acquisition process, and shareholders are urged to stay informed about the developments.