Ramelius Resources Limited (ASX:RMS) is moving ahead with the compulsory acquisition of all remaining Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) shares after it acquired a relevant interest of more than 90% of Musgrave shares.
The acquisition of the remaining shares by Ramelius will be via compulsory acquisition powers under the Corporations Act.
Musgrave shareholders who have not accepted the offer before the closing date will not receive the offer consideration until after the compulsory acquisition process is completed, which is likely to be longer than one month after the offer closes.
The offer closes at 7:00 pm (Sydney time) tonight.
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Ramelius advised that since it will now move to compulsory acquisition, shareholders who have not accepted the offer are encouraged to do so before 7.00 pm (Sydney time) tonight to ensure the offer consideration is paid to them as quickly as possible.
Should a shareholder require an acceptance form for the offer please contact the offer information line on 1300 396 032 (within Australia) or +61 3 9415 4100 (from outside of Australia).