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World Titanium advises shareholders to accept offer

7th March 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – The directors of ASX-listed World Titanium Resources (WTR) have advised its shareholders to accept a higher 7c-a-share offer from the African Minerals Exploration and Development Fund II (Amed Fund II).

The offer price has increased from 5c a share and was considered final.

The control of WTR has passed to Amed Fund II, with a 58.41% interest on March 4. Shareholders were advised to sell their shares by no later than March 18.

“If shareholders do not accept the offer, there is a reasonable prospect that they will be unable to realise the 7c a share offer price, following its close and that WTR will be delisted from the ASX,” the company said in a statement.

WTR added that there were “significant risks” involved in remaining a minority shareholder in WTR, with a view to potentially achieve greater value in the long term.

WTR is developing the Toliara Sands project, in Madagascar.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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