EganStreet Resources approaches compulsory acquisition by Silver Lake

EganStreet Resources Limited (ASX:EGA) has advised that as of November 21 Silver Lake Resources Limited (ASX:SLR) has acquired 84.11% of the company and now controls it.

Silver Lake has said that it intends to acquire the outstanding EganStreet shares if it acquires 90% or more of EganStreet shares.

As of today, in accordance with the bid implementation on July 30, non-executive chairman Barry Sullivan, executive director Lindsay Franker, founder and non-executive director Simon Eley and non-executive director Hedley Widdup have tendered their resignations.

Following the conclusion of EganStreets annual general meeting, Silver Lake non-executive chairman David Quinlivan and SilvRead More – Source

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