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Blumont Group declares offer for Genesis Resources unconditional

Friday, March 13, 2015 - 14:06
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Blumont Group has waived all the offer conditions of its offer for Genesis Resources (GES), making the proposed takeover bid unconditional.

Blumont Group has waived all the offer conditions of its offer for Genesis Resources (GES), making the proposed takeover bid unconditional.

This means that each GES shareholder that has accepted or does accept the offer before the close the offer will be issued shares in Blumont.

As at the close of business on Thursday, Blumont had voting power of 1.43 per cent in Genesis.

Mainboard-listed Blumont Group launched its off-market takeover bid for the Australia-listed miner in January last year. GES has a portfolio of gold, iron, manganese, uranium and base metal (copper-zinc-silver) in northern and central Australia, holding seven exploration licences over an area of 1,136 square kilometres.

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