LONDON (Alliance News) - Bushveld Minerals Limited said Tuesday its takeover bid for all of the ordinary shares in Lemur Resources Limited closed Friday.
Following the closing, Bushveld has acquired a relevant interest of 54.39% of Lemur's issued share capital.
The firm's bid officially closed 17:00 Perth, Western Australian time, on Friday 01 November 2013.
Bushveld said it will soon provide guidance as to its plans for the business. Fortune Mojapelo, CEO of Bushveld Minerals, added, "The Company intends to promptly conduct a comprehensive strategic review on Lemur in the coming weeks and will update the market accordingly."
Shares in Bushveld are down 6.42% to 3.09 pence per share in early trading.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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Bushveld Minerals (BMN)