Azimuth Resources Limited Board Changes
05.07.2013 | CNW
PERTH, July 2, 2013 - Azimuth Resources Limited (ASX, TSX: AZH) (Azimuth) is pleased to announce that gold producer Troy Resources Limited (ASX, TSX: TRY) (Troy) has declared its takeover offer of Azimuth free from all conditions.As at 2.00pm (Sydney time) on 2 July 2013, Troy's voting power (plus acceptance instructions under the Institutional Acceptance Facility) was 78.23%. As the offer has now been declared unconditional, Troy has a relevant interest and voting power in the shares in the Institutional Acceptance Facility. Processing of all acceptances received to date will now commence.
Azimuth shareholders who have already accepted Troy's offer, or who do so prior to 7.00pm (Sydney time)/ 5.00am (Toronto) time on Friday, 5 July 2013, will be issued their new Troy shares on 11 July 2013.
Azimuth shareholders who accept after that date will be issued their Troy shares in accordance with the terms of the Troy offer.
The offer continues to be unanimously recommended by the board and CEO of Azimuth and shareholders who have not accepted the Troy offer are encouraged to do so as soon as possible.
The offer is scheduled to close at 7.00pm (Sydney time) / 5.00am (Toronto time) on 12 July 2013 (unless extended).
Upon Troy obtaining a relevant interest in Azimuth shares of at least 90%, Troy intends to proceed to compulsory acquisition of all outstanding Azimuth shares. Azimuth shareholders who do not accept the offer during the offer period and whose shares are subject to compulsory acquisition will not receive consideration until approximately 6 weeks after the compulsory acquisition process commences. It is expected that ASX will suspend quotation of Azimuth shares after compulsory acquisition commences.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
For further information:
Enquiries:
Offer Information Line:
Tel: 1300 810 584 (calls within Australia)
Tel: +61 2 8022 7909 (calls outside Australia)
Institutional Acceptance Facility:
Tel: +61 3 9415 5587
Shareholders:
Russell Clark, Chief Executive Officer
Tel: +61 8 9381 2488
rclark@azimuthresources.com.au
Media:
Bill Kemmery
Fortbridge Consulting Pty Ltd
Tel: +61 2 9003 0499
Tel: +61 400 122 449
bill.kemmery@fortbridge.com
