6th Jan 2020 11:25
(Alliance News) - Avesoro Resources Inc said Monday that controlling shareholder Avesoro Jersey Ltd has acquired all remaining shares it does not own in the west Africa-focused gold producer.
In early December, Avesoro Jersey already owned 79.9 million shares, reflecting a 98% stake in Avesoro Resources. Now the shareholder has picked up the remaining 1.7 million shares at a price of 100 pence per share, or GBP1.7 million in total.
In October, the Avesoro board unanimously recommended the 100 pence per share bid from Avesoro Jersey, which is owned by Turkish businessman Murathan Gunal.
As a result of the share purchase, Avesoro Resources has applied to have its shares in Toronto and London's AIM delisted. The delisting of its Toronto shares is expected to take place on Tuesday, and its London shares on Wednesday.
Also on Monday, Avesoro's Chief Financial Officer Geoff Eyre was selected to take up the same role at mining firm Adriatic Metals PLC.
Adriatic did not give a date for Eyre's appointment, but said that its current CFO Sean Duffy will step down on March 6.
Shares in Avesoro Resources - which is based in Toronto - were up 1.6% at 98.50 pence on Monday in London.
By Dayo Laniyan; [email protected]
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