The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Investing

Takeover Update – Offer Declared Best and Final

by admin March 17, 2025
March 17, 2025
Takeover Update – Offer Declared Best and Final

Astral Resources NL (ASX: AAR) (Astral or the Company) refers to its off market takeover bid to acquire all of the ordinary shares of Maximus Resources Limited (ASX:MXR) (Maximus) (Offer) it does not already own on the basis of one (1) Astral share for every two (2) Maximus shares held pursuant to the Bidder’s Statement dated 3 February 2025 (Bidder’s Statement). The Offer is unconditional and will close at 7pm (AEDT) on Friday, 21 March 2025 (unless further extended).

HIGHLIGHTS

  • The Offer consideration has been declared best and final, and will not be increased
  • The Offer will close at 7pm (AEDT) on Friday, 21 March 2025 (unless further extended)
  • The Offer is unconditional and Astral has accelerated payment terms
  • Astral has majority control of Maximus with voting power of 81.67% as at 14 March 2025
  • With Astral’s ownership of Maximus now exceeding 80%, Maximus shareholders may now be eligible for rollover tax relief
As at 14 March 2025, Astral had voting power in Maximus of 81.67%. That being the case, Maximus shareholders may be eligible for rollover tax relief. For further information, please refer to section 10 of the Bidder’s Statement.

Offer declared best and final as to consideration

Astral declares its Offer of 1 Astral share for every 2 Maximus shares best and final as to consideration. There will be no increase in the number of Astral shares offered under the Offer.

Accelerated payment terms

On 24 February 2025, Astral announced that payment terms for validly accepting Maximus shareholders had been accelerated such that Maximus shareholders who have yet to validly accept the Offer will be issued their Astral Shares within 10 Business Days of their acceptance being processed in accordance with the terms of the Offer.

Minority Maximus shareholders – Liquidity and valuation risk

Maximus shareholders who do not accept the Offer prior to its close will not receive the consideration under the Offer, unless Astral is entitled to proceed to compulsory acquisition (in which case they will receive the consideration, but at a later date than if they accepted the Offer).

Maximus shareholders should be aware that, if Astral is NOT entitled to proceed to compulsory acquisition (e.g. if Astral does not acquire more than 90% voting power in Maximus), and Maximus continues to be listed on the ASX following the Offer, then the decrease in the number of Maximus shares available for trading may have a material adverse impact on their liquidity and valuation. Furthermore, depending on the level of acceptances received and other considerations, Maximus may apply to de-list from the ASX, in which case it may become more difficult and expensive for Maximus shareholders to sell their shares.

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Flagging sales and Elon Musk’s political activities are rocking Tesla’s value
next post
New RAD202 data confirms positive tumor uptake

Related Posts

AGNICO EAGLE ANNOUNCES INVESTMENT IN CANADA NICKEL COMPANY...

December 31, 2023

Crypto Market Recap: CME Launches SOL Futures Contracts,...

March 19, 2025

​Tech 5: SEC Delays Spot Ethereum ETF Decision,...

May 14, 2024

Lake Resources NLMaiden Ore Reserve Defined at Flagship...

December 20, 2023

Alkane Completes Merger with Mandalay Resources, Begins Trading...

August 12, 2025

VIZSLA COPPER EXPANDS WOODJAM COPPER-GOLD PROJECT

January 17, 2024

Kazatomprom Cuts 2026 Uranium Output as Market Tightens,...

August 26, 2025

Silver Price Forecast: Top Trends That Will Affect...

December 21, 2024

Red Metal Resources Engages German Investor Awareness and...

November 21, 2024

Norfolk Metals

April 30, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,516)
    • Investing (3,933)
    • Politics (5,246)
    • World (4,762)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved