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7 stories mentioning ASX:ERMUpdated 45d ago

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Asia

Emmerson Resources Says Pan African Resources Deal Legally Effective; Shares Down 4%

Emmerson Resources (ASX:ERM) said Pan African Resources' acquisition of the company is now legally effective following the lodging of associated court orders with the Australian Securities and Investments Commission, according to a Monday filing with the Australian bourse.Eligible Emmerson shareholders will receive 0.1493 new Pan African Chess depositary interests for each share held, per the filing. The deal is expected to be implemented on July 1.Emmerson said its shares will likely be suspended from the ASX from the close of trading on Monday.The company's shares fell past 4% in recent Monday trade.

ASX:ERM
Asia

Emmerson Resources Says Western Australia's Supreme Court Approved Pan African Resources Deal; Shares Fall 5%

Emmerson Resources (ASX:ERM) said the Supreme Court of Western Australia approved Pan African Resources' proposed acquisition of the company on Friday, according to a same-day filing with the Australian bourse.Emmerson plans to lodge a copy of the court's orders with the Australian Securities and Investments Commission on June 22, which will make the deal legally effective.The company said it expects its ASX-listed shares to be suspended at the close of trading on June 22.Shares of Emmerson fell 5% in recent Friday trade.

ASX:ERM
Asia

Emmerson Resources Shareholders Approve Proposed Acquisition by Pan African Shares Jump 8%

Emmerson Resources (ASX:ERM) said its shareholders approved a resolution at a meeting for the proposed acquisition of all of the fully paid ordinary shares in Emmerson by Pan African Resources, according to a Monday Australian bourse filing.A total of 90.81% of the votes cast by Emmerson shareholders at the meeting were in favor of the resolution.Its shares rose 8% in recent trading on Monday.

ASX:ERM
Asia

Emmerson Resources Says Court Hearing on Pan African Resources Deal Set for June 19; Shares Rise 5%

Emmerson Resources (ASX:ERM) said the Supreme Court of Western Australia will hear an application by the company on June 19 to approve its proposed acquisition by Pan African Resources, according to a Friday filing with the Australian bourse.Shareholders of Emmerson will vote on the deal at a meeting scheduled for June 15.The company's shares gained 5% in recent Friday trade.

ASX:ERM
Asia

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

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.

ASX:ERM
Asia

Emmerson Resources Expects Proposed Acquisition by Pan African Resources to Become Effective in Late June

Emmerson Resources (ASX:ERM) expected the proposed acquisition of the firm by Pan African Resources via a scheme of arrangement to become effective in late June and be implemented in early July, per a revised indicative timetable, according to a Thursday filing with the Australian bourse.A draft scheme booklet, containing an independent expert's report in respect of the scheme, has been lodged with the Australian Securities and Investment Commission for review, per the filing.

ASX:ERM
Asia

Patronus Resources Conditionally Agrees to Vote for Emmerson Resources-Pan African Resources Deal

Emmerson Resources (ASX:ERM) said shareholder Patronus Resources (ASX:PTN) has conditionally agreed to vote in favor of Pan African Resources' proposed acquisition of Emmerson, according to a Wednesday filing with the Australian bourse.Patronus, which holds about 7.4% of Emmerson's issued share capital, will vote for the deal if the share exchange ratio is at least 0.1493 Pan African shares for each Emmerson share. The positive vote is also subject to no superior proposal emerging and independent experts finding the deal to be in the best interests of Emmerson shareholders, per the filing.Emmerson Resources shares were down 3% on market close, while Patronus Resources fell nearly 2%.

ASX:ERMASX:PTN

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