IN BRIEF: Highland Gold's Takeover By Fortiana Now Unconditional

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

Copyright 2020 Alliance News Limited. All Rights Reserved.