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Close of Off-Market Takeover Bid for Linden Gold Alliance Limited and Board Updates

by June 3, 2024
June 3, 2024
Close of Off-Market Takeover Bid for Linden Gold Alliance Limited and Board Updates

Brightstar Resources Limited (ASX:BTR) (Company or Brightstar) refers to the bidder’s statement dated 29 April 2024 (as supplemented by Brightstar’s first supplementary bidder’s statement dated 10 May 2024) (Bidder’s Statement) and offers in relation to its off-market takeover for all the fully paid ordinary shares and options in Linden Gold Alliance Limited (Linden) (Offers).

HIGHLIGHTSBrightstar’s offers in relation to its off-market takeover for all the fully paid ordinary shares and options in Linden Gold Alliance Limited closed at 5:00pm (Perth time) on Thursday, 30 May 2024, with Brightstar acquiring a relevant interest in 96.75% Linden Shares and 96.81% Linden Options.Brightstar will issue the Share Offer Consideration and Option Offer Consideration for the Accepted Linden Shares and Accepted Linden Options by no later than Thursday, 20 June 2024.As part of the completion of the Offers, Brightstar has appointed Messrs Andrew Rich (Executive Director), Ashley Fraser (Non-Executive Director) and Richard Crookes (Non-Executive Chairman) to the Brightstar Board of Directors.

Capitalised terms not defined in this announcement have the meaning given to the same term in the Bidder’s Statement.

Brightstar is pleased to advise that the Offers closed at 5:00pm (Perth time) on Thursday, 30 May 2024, with Brightstar acquiring a relevant interest in 96.75% Linden Shares and 96.81% Linden Options. All of the conditions of the Offers were satisfied during the Offer Period and the contracts resulting from acceptances were declared unconditional by notice given on 22 May 2024.

In accordance with the timing set out in the Bidder’s Statement and subsection 620(2) of the Corporations Act 2001 (Cth), Brightstar will issue the Share Offer Consideration and Option Offer Consideration for the Accepted Linden Shares and Accepted Linden Options by no later than 21 days after the end of the Offer Period, being 20 June 2024.

As announced on 28 May 2024, Brightstar has commenced the compulsory acquisition process for the remaining Linden Shares and Linden Options in respect of which it has not received acceptances under the Offers.1

Click here for the full ASX Release

This post appeared first on investingnews.com
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