Emmerson Resources' Acquisition by Pan African Resources Clears ASX Admission Requirement

MT Newswires Live06-11

Emmerson Resources (ASX:ERM) said its buyer Pan African Resources has received a conditional Australian Securities Exchange (ASX) admission letter in relation to the proposed court-approved scheme of arrangement, satisfying part of the listing condition, according to an Australian bourse filing on Wednesday after market hours.

Shareholder, court, and other customary approvals remain outstanding, per the filing.

The scheme meeting will be held on June 15, with proxy voting closing on June 13.

The independent expert continues to find the scheme "fair and reasonable" and in shareholders' best interests in the absence of a superior proposal, the filing said.

The board unanimously recommends that shareholders vote in favor of it, subject to the same conditions, the filing added.

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