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Viking Ashanti extends Auminco takeover deadline

15th May 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior Viking Ashanti has extended its takeover of fellow listed Auminco Mines by 14 days, after it received a 97.08% acceptance of its takeover offer.

The company said on Thursday that the offer period would now be extended until June 6.

In November last year, Viking Ashanti launched a takeover for the Mongolia-focused Auminco, offering shareholders about 129.7-million shares, which would have resulted in that company holding a 59% interest in the enlarged entity, with Viking’s current shareholder base retaining a 41% interest.

The agreement was amended in December last year, and resulted in Viking proposing to acquire all Auminco’s shares in return for 61.2 of its own shares, and 20.4 of its options, for every 100 Auminco shares held. This meant that Viking would acquire Auminco in exchange for 81-million shares and 27-million unlisted options.

Edited by Creamer Media Reporter

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