Metals Exploration PLC - Philippines-focused mineral resources firm - High Court of Justice in UK sanctions Metals Exploration's buyout of Condor Gold PLC, the firm developing the La India gold project in Nicaragua, the firms say on Monday. Last month, Condor Gold agreed a GBP67.5 million takeover from Metals Exploration. Metals Exploration, backed by property financier Nick Candy, offered 4.0526 shares and 9.9 pence in cash for each Condor share. Metals Exploration said at the time that based on its closing share price in late-November, the offer values each Condor share at 33.0p or GBP67.5 million in total.
Shares in Condor Gold were suspended from trading on Tuesday. The cancellation of its listing is expected to be with effect on Thursday.
Metals Exploration current stock price: 6.10 pence
12-month change: up 97%
By Eric Cunha, Alliance News news editor
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Metals Exploration (MTL)
