LONDON (Alliance News) - Tengri Resources Ltd Thursday noted an announcement by Padiham Resources Pty Ltd, a company controlled by Stanhill Capital Partners and Droxford International, regarding Padiham's offer for Tengri's majority owner ASX-listed Robust Resources Ltd.
Robust Resources owns 87.3% of Tengri. In a statement to ASX on Thursday, Padiham Resources said its takeover offer for the shares in Robust has become unconditional.
"This announcement is therefore intended to serve as an update only to Tengri's other shareholders in relation to a change in control of a substantial Tengri shareholder," Tengri said in a statement.
Tengri is a mining exploration and development company focused on low-cost gold-copper projects in the Kyrgyz Republic.
Tengri shares were Thursday quoted flat at 8.50 pence at the close of trade.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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