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Court approves Doray merger

28th March 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The Supreme Court of Western Australia has approved the merger between gold miners Doray Minerals and Silver Lake Resources.

Doray shareholders earlier in the month voted in favour of the merger to create an enlarged gold miner with two gold projects in Western Australia.

Under the proposed merger, Doray shareholders will receive 0.6772 Silver Lake shares for every Doray share held. Silver Lake shareholders will hold a 62.7% interest in the combined company, and Doray shareholders a 37.3% share.

Doray on Thursday said that it would lodge the Court orders with the Australian Securities and Investment Commission on Friday, making the takeover effective.

Doray shares will cease trading on March 29, and will be removed from the official ASX list on April 9.

Edited by Creamer Media Reporter

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