Highland Gold Mining Ltd - miner in Russian regions of Khabarovsk, Zabaikalsk and Chukotka - Takeover by Fortiana Holdings Ltd now unconditional following the receipt of acceptances for 289.7 million shares, reflecting an 80% stake in the company.
In July, Fortiana bought 40% stake in Highland for GBP437.4 million, valuing the whole company at GBP1.09 billion, and made a forward offer to purchase the remaining shares it did not own.
Will now apply to the London Stock Exchange to cancel Highland Gold's shares on AIM.
Current stock price: 296.00 pence
Year-to-date change: up 51%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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