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Ramelius starts compulsory acquisition of Breaker

Image shows ASX trading wall

Photo by Bloomberg

15th May 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Suitor Ramelius Resources has acquired more than a 90% interest in ASX-listed Breaker Resources, with the company announcing on Monday that it would now move to the compulsory acquisition of the remaining shares in Breaker.

Under the terms of the all-scrip off-market takeover offer, Breaker shareholders would receive one Ramelius share for every 2.82 Breaker shares held, valuing the offer price at 40c a share, representing a 41% premium to Breaker’s three-day volume weighted average share price (VWAP), and a 41.5% premium to the company’s 30-day VWAP.

The offer will close at the end of business on Monday and will not be extended. Breaker shareholders who have not accepted the offer before the end of the offer period will not receive the offer consideration until the compulsory acquisition process is completed. 

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