Takeover offer for Azimuth - Compulsory acquisition
11.07.2013 | CNW
- Troy to proceed to compulsory acquisition of remaining shares in Azimuth- Troy currently has a relevant interest in 93.97% of Azimuth shares
- Azimuth shareholders who accept before the end of the Offer period will receive their Troy shares within five trading days after the Offer closes
- Trading in Azimuth shares on the ASX will be suspended at close of trade on Thursday, 18 July 2013
- Offer closes at 7.00pm (Sydney time) / 5.00am (Toronto time) on Friday, 12 July 2013
- Azimuth will apply to be de-listed from the TSX as of close of trading on Thursday, 18 July 2013
PERTH, July 11, 2013 - Troy Resources Limited (ASX, TSX: TRY) (Troy) is pleased to advise that as at close of trading on the ASX on 10 July 2013, Troy's relevant interest in Azimuth Resources Limited (ASX, TSX: AZH) (Azimuth) was 93.97%. Troy will now proceed to acquire the remaining Azimuth shares under the compulsory acquisition provisions of the Corporations Act 2001 (Cth) (Corporations Act).
The compulsory acquisition will be on the same terms as the Offer, that is, one Troy share for every 5.695 Azimuth shares held. The compulsory acquisition process, which is subject to the Corporations Act, is likely to take approximately 4 to 6 weeks, but may take longer in some circumstances.
Azimuth shareholders who have not accepted into the Offer, may still do so before 7.00pm (Sydney time) / 5.00am (Toronto time) on Friday, 12 July 2013 to receive their Troy shares within five trading days after the Offer closes. If shareholders wait to have their Azimuth shares compulsorily acquired, they will have to wait at least four weeks to receive their Troy shares.
Azimuth shareholders should also be aware that they will not be able to sell their Azimuth shares on the ASX after Thursday, 18 July 2013, which is when trading in Azimuth shares on ASX will be suspended.
A notice of compulsory acquisition following takeover bid (ASIC Form 6021), which sets out the compulsory acquisition procedure and the remaining Azimuth shareholders' rights, will be mailed to Azimuth shareholders as required by the Corporations Act. A copy of such notice and the accompanying letter to Azimuth shareholders will be available under Azimuth's profile on SEDAR at www.sedar.com. Azimuth shareholders are not required to sign or return the notice.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Enquiries:
Offer Information Line:
Tel: 1300 810 584 (calls within Australia)
Tel: +61 2 8022 7909 (calls outside Australia)
Troy Resources Limited:
Paul Benson, Chief Executive Officer
Tel: +61 8 9481 1277
Azimuth Resources Limited:
Russell Clark, Chief Executive Officer
Tel: +61 8 9381 2488
