Sierra Rutile Holdings Limited (AU:SRX) has released an update.
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Sierra Rutile Holdings Limited has advised its shareholders to promptly accept the 18 cents per share takeover offer from Leonoil, which has already garnered over 75% voting power in SRX and is considered unlikely to face a superior proposal. This recommendation follows the release of Sierra Rutile’s Second Supplementary Target’s Statement and accounts for the risks of reduced liquidity and potential ASX delisting for minority shareholders who do not accept. The offer, representing a definitive proposal unless a competing one arises, will remain open until September 18, 2024.
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