Lotus Resources Ltd (ASX:LOT) will soon merge with A-Cap Resources Ltd (ASX:ACB) following federal court approval for the two companies’ scheme of arrangement, which would see Lotus acquire 100% of A-Cap shares.
The merger would create a large Africa-centred uranium company with a resource base of 241.5 million pounds.
Under the scheme of arrangement (share scheme), A-Cap shareholders will receive 1 new Lotus share for every 3.54 A-Cap shares held on the scheme record date.
Read more: Lotus Resources and A-Cap merger to create major African-focused uranium player