Gold Road Resources (ASX: GOR)
Announced they have abandoned their bid for Apollo Consolidated after Ramelius Resources increased their offer to 62 c per share in cash and scrip.
Gold Road are selling their 19.9% stake in Apollo to Ramelius.
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| Gold Road | ASX : GOR |
| Stage | Production (50% JV) |
| Metals | Gold |
| Market cap | A$1.42 Billion @ A$1.60 |
| Location | Laverton, Western Australia |
GOLD ROAD’S OFFER FOR APOLLO – ACCEPTANCE OF RAMELIUS OFFER
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Gold Road Resources Limited (Gold Road or the Company) refers to its all cash
unconditional off-market takeover offer for Apollo Consolidated Limited (Apollo) at
$0.56 per Apollo share (Offer).
Following Gold Road’s announcement on 8 November 2021, Gold Road advises that it
has accepted the off-market takeover offer made by Ramelius Resources Limited in
relation to its entire holding of Apollo shares (being 58,324,117 Apollo shares).
A second supplementary bidder’s statement (in the form attached) in relation to the Offer has been lodged with ASIC today.
This release has been authorised by the Board
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Disclosure
At the time pf publishing the author holds shares in Gold Road Resources bought in the market o the day of purchase at the [prevailing price.