https://www.engineeringnews.co.za

Independence offer lapses

20th January 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Metals miner Independence Group’s takeover offer for fellow listed Panoramic Resources has lapsed, with Independence saying on Monday that the acceptance from all Panoramic shareholders who took up the offer, would now be cancelled.

Independence in November announced a A$312-million takeover offer for Panoramic, offering one of its own shares for every 13 Panoramic shares held.

However, the ASX-listed company earlier this month said it would allow the takeover offer to lapse as a number of defeating conditions were triggered by Panoramic’s decision to undertake a A$31-million capital raise to repay loans and to continue the development of the Savannah North orebody, and to cover operating costs at the Savannah project, in Western Australia.

To watch Creamer Media's latest video reports, click here
 

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.053 0.089s - 140pq - 2rq
Subscribe Now