IMC Exploration Group PLC (LSE:IMC) shares jumped by 40% as the prospectus for its proposed reverse takeover of MVI Ireland was approved by the FCA and published.
MVI owns the operating licence for the Karaberd gold mine in northern Armenia, together with ore-crushing facilities located between Vanadzor and Karaberd.
Shareholders in IMC vote on the deal on 26 October 2023 with the reverse takeover expected to complete on 2 November 2023 and dealings in the new shares issued to start on the standard list on 6 November.
Shares rose 0.18p or 40% to 0.63p.