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Aquarius has undertakings for Ridge deal
June 18, 2009
Platinum miner Aquarius Platinum said on Thursday that has received irrevocable undertakings to vote in favour of the all share offer for Ridge Mining plc representing 32.7 percent of Ridge's issued ordinary share capital.
These undertakings have been received from the Ridge directors and the two largest Ridge shareholders, Gold Mountains (H.K.) International Mining Company, a wholly owned subsidiary of Zijin Mining Group, and Blackrock Investment Management.
Aquarius said all preconditions to the deal have been satisfied and the South African Competition Tribunal has unconditionally approved the transaction.
The circular to Ridge shareholders to implement the transaction, which is to be implemented pursuant to a scheme of arrangement, was posted to shareholders on 11 June.
Ridge shareholders will meet on July 6 to approve the transaction and approval of the Court will be sought on 27 July.
The scheme is expected to become effective on 30 July 2009.
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