EganStreet Resources takeover by Silver Lake moves to compulsory acquisition stage

EganStreet Resources Ltd (ASX:EGA) takeover by Silver Lake Resources Limited (ASX:SLR) has moved to the compulsory acquisition stage as a result of the latter holding more than 90% of EGA shares.

Silver Lake intends to compulsorily acquire any EganStreet shares that are not accepted into its takeover offer.

As at the close of trade on Wednesday, November 27, Silver Lake held 90.99% of EganStreet.

Compulsory acquisition notice lodged

A compulsory acquisition notice has been lodged with the Australian Securities and Investments Commission and a letter will be sent to EganStreet shareholders who have not accepted Silver Lakes offer.

EganStreet shareholders who have not yet accepted Silver Lakes offer may still do so by 7.00pm (AEDST) on December 13, 2019, which is the scheduled closing time for the offer.

Shareholders who accept the offer by this date will receive consideration for their shares earlier, rather than waiting for the shareRead More – Source

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