(Alliance News) - West Africa-focused gold producer Avesoro Resources Inc on Monday said 85% of investors have accepted the 100 pence per share offer made by controlling shareholder Avesoro Jersey Ltd.
Avesoro also said the offer acceptance period has now been extended to December 3.
Avesoro Jersey currently owns 78.3 million shares in Avesoro Resources, representing around 96% of the company's outstanding share capital.
"The board of directors, excluding certain interested directors, unanimously recommends minority shareholders accept the offer and deposit their common shares to the offer. The offer represents an opportunity for shareholders to realise certainty of value and immediate liquidity for their common shares," Avesoro said.
Avesoro shares on Monday closed at 98.50 pence each in London, up 1.0%.
By Tapan Panchal; tapanpanchal@alliancenews.com
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