The AIM-listed gold miner is facing opposition from a number of dissident shareholders, two of whom have proposed an alternative plan to merge with the company's African joint venture partner Thani Stratex.
In a statement today, Stratex said the dissident group had confirmed that the Thani Stratex merger proposal would be reviewed in detail if they win today’s vote.
Under Aim rules, a Thani Stratex merger proposal might constitute a reverse takeover under AIM rules, which would mean suspension of its shares pending publication of an admission document and circular to shareholders.
Last month, Stratex extended the deadline for completion of the Crusader takeover until 28 February next year.
Marcus Englebrecht, Stratex's chief executive, wants to acquire Crusader primarily because of its Borborema gold asset in Brazil, which he thinks could be moved into production quickly and generate US$30mln in cash per year.