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Fitzroy extends offer period for Royalco

20th January 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Fitzroy River Corporation has extended its offer for fellow-listed Royalco Resources from the end of January until February 13.

The directors of Royalco have unanimously recommended that shareholders accept the offer in the absence of a superior proposal.

Fitzroy in October last year launched an on-market 18c-a-share takeover offer for Royalco, but in December increased the offer to 20c a share and waived the conditions.

The new Fitzroy offer valued Royalco at around A$10.54-million.

Edited by Creamer Media Reporter

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